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Trump Slams "Phony" Jobs Report Amid Data Crisis

8/28/2025

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Summary

Story summary

President Trump criticized the US employment report as "phony" and dismissed the Bureau of Labor Statistics head.
Budget cuts have led to reduced staffing and data quality, prompting the Data Rescue Project to safeguard essential economic data.
Traders are increasingly using alternative data sources, such as satellite imagery, though access is still limited and expensive.

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Story summary

President Trump criticized the US employment report as "phony" and dismissed the Bureau of Labor Statistics head.
Budget cuts have led to reduced staffing and data quality, prompting the Data Rescue Project to safeguard essential economic data.
Traders are increasingly using alternative data sources, such as satellite imagery, though access is still limited and expensive.