Shark Tank star Kevin O’Leary didn’t hold back in criticizing President Donald Trump for his decision to fire Dr. Erika McEntarfer, the head of the U.S. Bureau of Labor Statistics (BLS), after a weak jobs report surfaced. The unexpected move happened on Friday and has drawn sharp reactions from various sectors.
Why This Is Important
Trump’s choice to let McEntarfer go has sparked alarms among economists, business professionals, and political figures, all of whom are now questioning the impartiality of economic reporting in the U.S. Ousting her just after disappointing employment numbers highlights a rare moment where a sitting president intervenes in a nonpartisan agency responsible for vital economic data.
July’s employment stats fell short of even cautious estimates, reflecting an addition of only 73,000 jobs against a predicted 100,000 by Dow Jones. This setback led to broader discussions regarding the influence of politics on federal institutions and the integrity of the statistics that govern economic trust.
What You Should Know
On Truth Social earlier in the day, Trump announced McEntarfer’s dismissal, accusing her of misrepresenting data to favor former Vice President Kamala Harris as the 2024 Presidential election looms, insisting she was merely trying to “boost Kamala’s chances of victory.”
During an appearance on CNN, O’Leary was prompted about whether Trump’s latest economic policies were affecting his investment strategies. He stated, “I don’t let one day’s trading influence my long-term strategy. I welcome market fluctuations and accept volatility as part of investing. While we did see a dismal job report, I disagree with the dismissal of the commissioner—that made no sense to me.”
According to O’Leary, “Sacking statisticians isn’t the answer. You don’t shoot the messenger; that’s an old practice from Ancient Rome. It’s irrelevant now. This role is merely to compile data; there was no need for such a drastic action.”
He added, “There’s concern around trading agreements not falling into place, particularly with Canada facing tariffs that go into effect tonight unless something miraculously changes.”
McEntarfer’s firing coincided with a challenging day for U.S. markets, where the Dow Jones Industrial Average fell by 542 points (1.2%), with the S&P down 1.6% and the Nasdaq composite off by 2.2%. Analysts attributed this decline to weak employment figures and the newly announced tariffs introduced by Trump.
Public Reactions
JB Pritzker, the Democratic Governor of Illinois, expressed his thoughts on X: “Trump just dismissed the head of the Bureau of Labor Statistics for stating facts that expose the mess his policies have made of the economy. He claimed he’d act like a dictator from day one, and that’s exactly what he’s reflecting today.”
Trump, in a conversation with Newsmax, commented: “We faced some issues with her, and with plenty of questions being raised, we had to let her go because we couldn’t trust the numbers today.”
What’s Next?
What remains to be seen is who Trump will appoint as the next permanent head of the BLS. He proclaimed on Truth Social that McEntarfer would be s ded by someone “much more capable and qualified.” Some former BLS leaders, including William Beach, have called for an investigation into the circumstances surrounding her firing.
