{"id":918123,"date":"2026-10-02T18:18:13","date_gmt":"2026-10-02T18:18:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/918123\/"},"modified":"2026-10-02T18:18:13","modified_gmt":"2026-10-02T18:18:13","slug":"kevin-hassett-on-soft-jobs-report-very-happy-overall","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/918123\/","title":{"rendered":"Kevin Hassett on Soft Jobs Report: ‘Very Happy!’ Overall"},"content":{"rendered":"

Fox News\u2019s Bill Hemmer hit Trump economic chief Kevin Hassett with the tough jobs report that came out Friday, but Hassett assured him that it\u2019s all according to plan<\/a>.<\/p>\n

\u201cU.S. added 29,000 jobs last month, but we had expected about 90,000<\/a>,\u201d Hemmer said on America\u2019s Newsroom. \u201cUnemployment ticked up a tenth of a percent to 4.2. The market likes it. Stocks are flying right now on Wall Street. The Dow is up 338 points, the NASDAQ up well over 1%, and S&P is trending that way as well.\u201d<\/p>\n

\u201cWhat do you make of this number?\u201d Hemmer asked Hassett, adding, \u201c\u2018Cause you missed the number by about 66%.\u201d<\/p>\n

\u201cThe thing about the jobs numbers is that they sort of bounce up and down,\u201d Hassett said. \u201cBut if you look at the data from this week, it\u2019s proving that Trumponomics is really working, and this is one reason why markets are celebrating so much.\u201d<\/p>\n

Hassett continued:<\/p>\n

We got a GDP release a couple days ago that radically revised up GDP, and revised it up on things that are positive for growth, like factory spending, and so on. And then we got an inflation report, which is the Fed\u2019s favorite inflation report, which, if you look at the three month moving average they\u2019re saying that core inflation is only 2%, and top line inflation is only 1%, because the price of food and energy is declining now off of highs of the summer.<\/p>\n

And so now we have a jobs report that is a little bit lukewarm, but if you look inside, 12,000 of the jobs were factory construction jobs. So there are 112,000 people who are building factories right now that weren\u2019t doing it when President Trump took office. And so those factories will turn into future jobs and we\u2019re seeing it even with the groundbreaking the president did yesterday in Texas.<\/p>\n

Hassett added, \u201cSo, we\u2019re very, very happy<\/a> with the numbers this week, and I think the markets are, too.\u201d<\/p>\n

\u201cSo, you\u2019re bullish, I expected that,\u201d Hemmer said. \u201cParticipation rate \u2014 the way I read it, half a million Americans came back into the workforce. Is that what the report shows?<\/p>\n

\u201cRight, yeah, so people are seeing the strong labor market and they\u2019re saying \u2018Oh, I need to get back to the labor force \u2019cause I\u2019m gonna make so much money.\u2019 And that\u2019s one reason why the unemployment rate just ticked in a different direction.\u201d<\/p>\n

Watch the clip above via America Reports on Fox News.<\/p>\n

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