WASHINGTON 鈥 U.S. hiring slowed sharply last month, the Labor Department reported Friday, as President Donald Trump鈥檚 erratic and radical trade policies paralyze businesses and raise doubts about the outlook for the world鈥檚 largest economy.
After the report was released, Trump fired the head of the agency that produces the monthly jobs figures.聽
On his social media platform, Trump claimed the figures were manipulated for political reasons and said Erika McEntarfer, the director of the Bureau of Labor Statistics who was appointed by former President Joe Biden, should be fired.聽He provided no evidence for the charge.
Cargo is unloaded Friday聽from the Federal Hudson bulk carrier in Detroit.聽
鈥淚 have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,鈥 Trump posted. 鈥淪he will be replaced with someone much more competent and qualified.鈥
Trump鈥檚 move to fire McEntarfer represented another extraordinary assertion of presidential power. He has wielded the authority of the White House to try to control the world鈥檚 international trade system, media companies, America鈥檚 top universities and Congress鈥 constitutional power of the purse, among other institutions.
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鈥淔iring the Commissioner聽鈥 when the BLS revises jobs numbers down (as it routinely does) threatens to destroy trust in core American institutions, and all government statistics,鈥 Arin Dube, an economist at the University of Massachusetts-Amherst, said on social media. 鈥淚 can鈥檛 stress how damaging this is.鈥
鈥淲hat does a bad leader do when they get bad news? Shoot the messenger,鈥 Senate Minority Leader Chuck Schumer, D-N.Y., said in a Friday speech.
After Trump's initial post, Labor Secretary Lori Chavez-DeRemer said on social media that McEntarfer was no longer leading the bureau and William Wiatrowski, the deputy commissioner, would serve as the acting director.
鈥淚 support the President鈥檚 decision to replace Biden鈥檚 Commissioner and ensure the American People can trust the important and influential data coming from BLS,鈥 Chavez-DeRemer said.
McEntarfer was nominated by Biden in 2023 and became the Commissioner of the Bureau of Labor Statistics in January 2024. Commissioners typically serve four-year terms but, since they are political appointees, they can be fired. The commissioner is the only political appointee of the agency, which has hundreds of career civil servants.
President Donald Trump signs an executive order Thursday in the Roosevelt Room of the White House in Washington.聽
U.S. employers added just 73,000 jobs last month, the Labor Department reported, well short of the 115,000 expected.
Worse, revisions shaved a stunning 258,000 jobs off May and June payrolls. The unemployment rate ticked higher to 4.2% as Americans dropped out of the labor force and the ranks of the unemployed rose by 221,000.
"A notable deterioration in U.S. labor market conditions appears to be underway," said Scott Anderson, chief U.S. economist at BMO Capital Markets. "We have been forecasting this since the tariff and trade war erupted this spring and more restrictive immigration restrictions were put in place. Overall, this report highlights the risk of a harder landing for the labor market."
Revisions are a standard part of the monthly jobs report. The Labor Department revises its numbers as more data comes in. Particularly since COVID-19, businesses have taken longer to respond to the government's survey on hiring. As more data comes in later than in the past, the potential for large revisions increased.
Economists warned the rift with every U.S. trading partner will begin to appear this summer and the Friday jobs report appeared to sound the bell.
"We're finally in the eye of the hurricane," said Daniel Zhao, chief economist at Glassdoor. "After months of warning signs, the July jobs report confirms that the slowdown isn't just approaching 鈥 it's here."
Revelations in the new data raise questions about the health of the job market and the economy as Trump pushes forward an unorthodox overhaul of American trade policy.
Trump discarded decades of U.S. efforts to lower trade barriers globally, instead imposing hefty import taxes, or tariffs, on products from almost every country on Earth. Trump believes the levies will bring back聽manufacturing to America and raise money to pay for the massive tax cuts he signed into law July 4.
Trump鈥檚 new tariff rates of up to 41% on U.S. imports from dozens of countries drew expressions of relief Friday from some countries that negotiated a deal or managed to whittle them down from rates announced in April.
Others expressed disappointment or frustration over running out of time after hitting Trump鈥檚 Aug. 1 deadline for striking deals.
Canadian Prime Minister Mark Carney said his government is disappointed by Trump鈥檚 move to raise the U.S. tariff on goods from America鈥檚 northern neighbor to 35% from 25%.聽
A demonstrator holds an illustration of U.S. President Donald Trump wearing a chicken costume Friday聽during a protest against the 50% U.S. tariff outside the U.S. consulate in Brasilia, Brazil.聽
Mainstream economists warned that the cost of the tariffs will be passed along to Americans, both businesses and households.
That has begun.
Walmart, Procter & Gamble, Ford, Best Buy, Adidas, Nike, Mattel, Shein, Temu and Stanley Black & Decker all hiked prices due to U.S. tariffs. Economists at Goldman Sachs estimate that overseas exporters absorbed just one-fifth of the rising costs from tariffs, while Americans and U.S. businesses picked up the lion's share of the tab.
Trump sowed uncertainty in the erratic way he rolled out聽the tariffs 鈥 announcing, then suspending them, then coming up with new ones. He signed an executive order that set new tariffs on a wide swath of U.S. trading partners to that go in effect Aug. 7 after a flurry of unexpected tariff-related actions this week.
"There was a clear, significant, immediate, tariff effect on the labor market and employment growth essentially stalled, as we were dealing with so much uncertainty about the outlook for the economy and for tariffs," said Blerina Uruci, chief U.S. economist for the brokerage T. Rowe Price.
On Wednesday, Trump said on his social media platform, 鈥淭HE AUGUST FIRST DEADLINE IS THE AUGUST FIRST DEADLINE 鈥 IT STANDS STRONG, AND WILL NOT BE EXTENDED.鈥
Thursday afternoon, White House representatives 鈥 and Trump 鈥 still insisted no more delays were possible. But when Trump signed the order Thursday night, the start date of the punishing import taxes was pushed back seven days so the tariff schedule could be updated.
Forget the money鈥攖his is what actually keeps employees at their jobs
Forget the money鈥攖his is what actually keeps employees at their jobs
In the modern job market, salary has long stood as the holy grail of employment decisions. Yet, in an age where medical bills can spiral into bankruptcy and strike unexpectedly, a different factor has emerged as a silent but potent influence: healthcare benefits.
Whether it's a routine doctor visit or catastrophic medical care, the cost-sharing structures employers offer can deeply affect employees' lives鈥攁nd influence whether they accept, stay in, or leave a job, explains聽,聽a prescription discount website.
This article dives into how healthcare costs are shaping job decisions, especially across generations, within an evolving economic landscape, and amidst a changing healthcare system.
The Economic Backdrop: Healthcare in America Today
Rising Costs, Rising Concerns
The average annual premiums for employer-sponsored health insurance in 2023 were:
- $8,435 for individual coverage
- $23,968 for family coverage (Source: )
Employees cover roughly 17%鈥28% of these premiums, but that's just the beginning. High deductibles, co-pays, and surprise medical bills are increasingly common, leaving many workers to shoulder significant out-of-pocket expenses.
The Psychological Toll
Over 40% of Americans say they've delayed or avoided care due to cost鈥攅ven with insurance. This stress affects morale, mental health, and productivity at work. As a result, workers are prioritizing not just access to healthcare, but affordability.
Healthcare as a Deciding Factor in Job Selection
Benefits as Currency
A growing number of job seekers treat healthcare as an economic asset, not just a perk. In a 2024 Glassdoor survey:
- 78% said healthcare benefits were "very" or "extremely" important in evaluating job offers.
- 30% said they would take a lower salary in exchange for better benefits.
Candidates now evaluate not just the existence of healthcare plans, but their cost structures, deductibles, network size, and mental health access.
The Pandemic Effect
COVID-19 magnified this trend. The pandemic forced people to confront medical uncertainty, leading to:
- Greater interest in mental health and telehealth services
- Demand for transparent, flexible, and comprehensive care
- Employer benefits becoming a symbol of company values
Generational Perspectives: Healthcare Priorities by Age Group
Baby Boomers (1946鈥1964): Security Above All
- Prioritize comprehensive care, especially for chronic illnesses
- Value low out-of-pocket costs and strong network coverage
- Concerned about retirement healthcare and COBRA costs
Gen X (1965鈥1980): The Family Focused
- Often caring for both children and elderly parents
- Focused on family plan affordability and flexible savings accounts (FSAs/HSAs)
- Look for employers with dependents' benefits and mental health care
Millennials (1981鈥1996): Debt-Burdened and Value-Conscious
- More likely to pick high-deductible plans for lower premiums
- Seek mental health, telehealth, and preventive care access
- Often juggle student debt, so every premium dollar counts
Gen Z (1997鈥2012): Young but Savvy
- Digital natives with high awareness of healthcare systems
- Expect mental health support, gender-inclusive coverage, and transparency
- Willing to switch jobs for better coverage, even early in their careers
Salary vs. Healthcare: The Real Tradeoff
Quantifying the Value of Benefits
Example: An employer contributing $20,000/year to a family healthcare plan adds significant hidden compensation. However, if deductibles, co-pays, and out-of-network costs are high, employees may see that value eroded.
What Employees Now Compare
Employees are running the math鈥攏ot just emotionally reacting.
The Employer Challenge: Communicating Value
Many companies fail to clearly express the financial value of their benefits. Solutions include:
- Benefit summary infographics in offer letters
- Interactive tools to model costs
- Benefits orientation during onboarding
- Quarterly check-ins on usage and satisfaction
Innovation and Industry Trends
Healthcare as a Competitive Edge
Progressive companies now offer:
- Zero-deductible plans
- Fertility, IVF, and surrogacy benefits
- Gender-affirming care
- Mental wellness stipends and therapy apps
- Telemedicine-first plans for hybrid/remote teams
Tech-Powered Transparency
Employees now use:
- Price comparison apps
- Decision support tools powered by AI
- HSA and FSA management platforms
- Digital care dashboards for dependents
These tools are flattening information asymmetry and empowering smarter healthcare decisions.
The Future: Toward Personalization and Policy Shifts
Customizable Plans
The next wave of employer benefits may include:
- Modular healthcare options
- Lifestyle-based supplemental coverage
- Menus of wellness programs tailored to employee profiles
Flexibility is the future.
Policy Considerations
Legislation around:
- Medicare expansion
- Universal coverage
- Public options
... could reshape the employer's role entirely. Until then, most Americans will continue to rely on jobs for healthcare access, keeping benefits at the core of job selection.
Conclusion: Healthcare Is Job Satisfaction
As inflation, burnout, and labor shifts continue to reshape the workforce, healthcare costs have emerged as a core pillar of total compensation.
Whether you're Gen Z or a Boomer, working remote or onsite, what you pay for healthcare鈥攁nd what you get in return鈥攃ould be the deciding factor between jobs. Employers must understand that benefits are not just a checkbox鈥攖hey're a statement of values, a recruitment tool, and a retention weapon.
Key Takeaways for Employers
- Quantify healthcare value in dollars
- Offer flexible and inclusive options聽
- Prioritize mental health and family needs聽
- Educate employees with tools and transparency
- Recognize benefits as part of company culture
was produced by and reviewed and distributed by Stacker.
