FOX News host Stuart Varney sounded noticeably downcast while reporting the latest economic data under President Donald Trump.
“Disappointing jobs data, only 54,000 private sector jobs added,” he muttered during the broadcast, as Treasury yields also slipped.
The 10-year yield fell below 4.2%, and the two-year yield hovered around 3.61%.
Worst Jobs Report in Years
The tone of disappointment echoed broader concerns across the media and political spectrum following the release of August’s jobs report.
According to the Bureau of Labor Statistics, the U.S. added only 22,000 jobs in August, far below the expected 75,000. It marked one of the weakest monthly gains in recent years.
June’s numbers were also revised downward, showing a net loss of 13,000 jobs, something not seen since December.
So far, the economy has added 598,000 jobs in 2025, compared to more than 1.1 million in the same period last year.
The unemployment rate rose to 4.3%, its highest level since 2017, outside of the pandemic.
“The jobs engine that has been integral to U.S. economic growth defying expectations for the past four years is stalling,” said Sarah House, a senior economist at Wells Fargo.
Trump Blames the Fed as Critics Point to Tariffs
President Donald Trump blamed the Federal Reserve for not cutting interest rates, writing on social media: “Jerome ‘Too Late’ Powell should have lowered rates long ago. As usual, he’s ‘Too Late!’”
However, many economists argue that Trump’s own policies, including sweeping tariffs and aggressive spending cuts, are creating uncertainty that makes businesses hesitant to hire.
These factors, combined with stubborn inflation, are painting a picture of economic stagnation.
Scott Paul, president of the Alliance for American Manufacturing, said in a statement, “Manufacturing will be treading water until we see those changes.”
Tarlov: Trump Was Supposed To Fix This
FOX News contributor Jessica Tarlov directly addressed the disconnect between Trump’s campaign promises and the economic reality.
Sharing a clip from “The Five,” she said on social media: “Donald Trump was elected because he was supposed to be good for the economy. Turns out, he’s the opposite.”
In the segment, Tarlov pushed back against military-first approaches to crime, quoting Kendall Reid, a gun violence mediator in South Side Chicago, who called for mental health resources and job opportunities instead.
“Donald Trump has been cutting budgets for mental health,” she said.
She also highlighted the poor jobs report: “A big disappointment, even Kevin Hassett admitted it. Only added 22,000 jobs in August, expected 75K.”
Tarlov concluded, “Voters went out and they put Donald Trump in because they thought he was going to, quote-unquote, fix the economy. And the exact opposite has happened.”
Politicizing the Data?
This was also the first jobs report released after Trump fired Erika McEntarfer, the former head of the Bureau of Labor Statistics, over accusations of data inaccuracy.
Economists widely dismissed the accusation and warned that politicizing a traditionally nonpartisan agency could damage its credibility.
Trump’s replacement pick, E.J. Antoni of the Heritage Foundation, has already stirred controversy for suggesting a pause in monthly jobs reporting, a move economists say could disrupt global markets.
As investors watch for the Fed’s next move, many are bracing for continued economic turbulence.
While Trump and his allies insist the fundamentals are strong, the data is telling a different story, and even some FOX News hosts are being forced to say it out loud.
IMAGE CREDIT: “Donald Trump” by Gage Skidmore, via Flickr. Licensed under CC BY-SA 2.0. Image adjusted for layout.