The Memo: Weak jobs report clouds economy as Trump barrels toward midterms

New clouds darkened the economic landscape on Friday, as the latest employment report showed the nation shedding 23,000 jobs in July.

The number came as an unpleasant surprise to most economists. The consensus prediction from experts canvassed by Dow Jones had been that more than 80,000 jobs would be created.

Democrats pounced on the number to reinforce their case that President Trump is mismanaging the economy.

Former Transportation Secretary Pete Buttigieg, a possible 2028 presidential candidate, wrote on social media platform X: “The economic failures of the Trump administration keep piling up. There’s no way to spin these dismal results, because Americans know they’re paying the price every day.”

Rep. Nancy Pelosi (D-Calif,), the former Speaker, chimed in that, “Today’s disastrous report is the latest proof that the Trump economy has failed the American people.”

And Abdul El-Sayed, who this week won the Democratic nomination to battle former Rep. Mike Rogers (R-Mich.) in a U.S. Senate race in Michigan, wrote: “Trump dump…or slump. Either way, it’s bad. Mike Rogers wants to rubber stamp this. I want to stand up to it.”

Democrats believed even before the latest report that the economy would be a strong issue for them in November’s midterm elections.

Trump was elected, at least in part, to ease inflation that had lingered since hitting its highest point in decades in the middle of the Biden presidency.

Progress has been slow and, in recent months, has gone in the wrong direction, however. That’s largely because of Trump’s decision to go to war with Iran and the consequent climb in the price of oil.

Inflation peaked........

© The Hill