Trump Defends U.S. Economy as Job Growth Slows

Published: August 8, 2025, 14:30 (U.S. Eastern Time)

Former President Donald Trump held an unscheduled press briefing in the Oval Office on Thursday, presenting charts and economic data to argue that the U.S. economy remains strong despite a recent jobs report signaling potential weakness.

The appearance followed last week’s labor report, which showed slower job growth and prompted Trump to remove the head of the Bureau of Labor Statistics (BLS). Joined by Stephen Moore, a senior visiting fellow at the Heritage Foundation and co-author of Trumponomics, Trump aimed to reassure the public and reset the economic narrative.

Trump and Moore Present Economic Data

Flanked by a series of easel-mounted charts, Moore compared Trump’s current economic performance to that of former President Joe Biden, emphasizing what he said were stronger results under Trump’s leadership. The charts, Moore argued, demonstrated job creation, rising household incomes, and solid market performance.

Trump stood beside Moore, nodding in agreement and occasionally interjecting. “If I would have said this, nobody would have believed it,” Trump remarked, referring to Moore’s claim that median household income had already increased by $1,174 during Trump’s second term.

Moore stated that his figures were based on unpublished Census Bureau data, making independent verification challenging.

Disputes Over Jobs Data and BLS Leadership

The press event also served as Trump’s defense for dismissing Erika McEntarfer as head of the BLS. Moore claimed that BLS reports had overestimated job creation by 1.5 million during the final two years of Biden’s presidency.

“I think they did it purposely,” Trump said, though he did not present statistical evidence to support this claim. Economists note that revisions are a routine part of labor statistics, especially during periods of economic disruption.

Mixed Economic Picture

While the stock market has remained stable, job growth has slowed significantly. In the first seven months of 2025, employers added 597,000 jobs — about 44% fewer than during the same period in 2024. The July jobs report showed just 73,000 jobs added, with May and June numbers revised downward by 258,000.

By comparison, the economy under Biden added 2 million jobs in 2024 and 2.6 million in 2023. However, Biden’s tenure was marred by high inflation, which peaked in June 2022 when the Consumer Price Index reached a 40-year high.

Inflation Concerns Resurface

Trump’s policies, particularly new tariffs on imports, have sparked concerns about rising prices. Goldman Sachs projected that July’s inflation rate will reach 3% year-over-year, up from 2.3% in April. Analysts warn that higher import costs could further strain household budgets.

During Biden’s presidency, inflation significantly impacted everyday costs, from groceries to housing. Many voters cited affordability concerns as a factor in Trump’s 2024 election victory.

Trump’s Economic Promises

Trump has pledged to deliver rapid economic growth in his second term. However, independent data often shows a more moderate picture. Moore, a longtime economic ally of Trump, has positioned himself as a defender of the administration’s policies, emphasizing household income gains as evidence of progress.

The administration is expected to continue highlighting positive economic metrics while pushing back against unfavorable reports. The coming months, particularly with inflation trends and job creation numbers, will test the strength of Trump’s economic narrative.