‘Making Money’ host Charles Payne breaks down why capitalism has succeeded in america and what the 2025 election outcomes imply for the nation.
President Donald Trump on Wednesday touted his administration’s efforts to curb the scale of the federal authorities’s workforce whereas increasing non-public sector payrolls.
“Since January, 100,000 bureaucrats have left the federal payroll,” Trump stated in remarks on the America Enterprise Discussion board. “Government spending is down 2.5% this quarter compared to one year ago. Think of that.”
“And in stark contrast to last administration, 100% of all new jobs created in America under my administration have been created in the private sector, 100% of the jobs have come from the private sector,” Trump stated. “Otherwise, you don’t have a country.”
The president added that “I mean, I love government workers, but if you have all government workers, you don’t have a country, do you?”
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President Trump touted his administration’s efforts to cut back the federal workforce and increase non-public sector employment. (Andrew Harnik/Getty Photographs / Getty Photographs)
Since February, the primary full month of Trump’s second time period, the U.S. financial system added about 404,000 non-public sector jobs via August, in keeping with the newest Labor Division information.
The continued authorities shutdown delayed the September jobs report, and also will postpone the October jobs report scheduled for launch on Friday.
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Labor Division information displaying the overall variety of federal staff exhibits that the federal government’s workforce has declined from 3.002 million in February to 2.918 million in August.
That leaves the federal workforce down at the very least 84,000 jobs since Trump’s second time period started.
The delayed September and October jobs studies from the Bureau of Labor Statistics might present steeper declines within the federal workforce after they’re ultimately launched.
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Earlier this 12 months, the Trump administration’s DOGE initiative supplied deferred buyouts to federal employees. These allowed employees to successfully cease working for the federal government obtain pay till the tip of September.
The BLS famous within the jobs studies launched over the spring and summer time previous to the onset of the federal government shutdown that employees on paid depart or receiving severance pay are counted as employed within the institution survey.
