Job Growth, Gig Work, and the Fed: What’s Really Going On?
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 7 August 2025
⏱️ 24 minutes
🧾️ Download transcript
Summary
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Transcript
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| 0:00.0 | The job market is not as strong as headlines are suggesting. |
| 0:07.4 | It seems like the Fed is waiting to make a big decision on these job numbers, |
| 0:11.3 | so it's extremely important that they're accurate. |
| 0:13.8 | Well, Trump just made a big statement this week. |
| 0:16.6 | He fired the gal who's in charge of the labor stats, and he was pissed because they adjusted |
| 0:25.4 | them by $250,000, which is a lot, by the way. |
| 0:29.2 | Yeah, it's only 0.16%, but it is a lot of jobs. |
| 0:33.3 | Look at you with the low percentage. |
| 0:35.1 | Statistics. |
| 0:35.8 | Oh, let me give me another one. |
| 0:37.7 | Okay. So if you go year me give me another one. Okay. |
| 0:38.4 | So if you go year over year, over year from like the 70s, the average is like 50,000 jobs. |
| 0:46.6 | Yep. |
| 0:47.2 | So, okay. |
| 0:47.9 | So this is a big deal. |
| 0:49.7 | Like when you're well over $100,000 a month, $250,000 in two months, that's a big deal, right? |
| 0:57.2 | So if I'm the president, I'm like, what's happening? |
| 0:59.6 | Because as we all know, what was all, what we're all questioning already was, how accurate are these numbers? |
| 1:06.5 | Because they come out and they're like, oh, yeah, yeah, yeah. |
| 1:09.8 | And then they adjust. |
| 1:10.8 | And that, you know, nobody really pays attention to the adjustment. |
| 1:13.5 | Well, we always talk about what, even when Biden was president, we were talking about what a |
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