\u201cThe thing about the jobs numbers is that they sort of bounce up and down, but if you look at the data from this week it is proving that \u2018Trumponomics\u2019 is really working, and this is one reason why markets are celebrating so much,\u201d Hassett, 64, began, referring to Friday\u2019s stock market gains.<\/p>\n
Hassett then said the Commerce Department on Wednesday revised<\/a> upward its GDP outlook for the first half of the year, and a Federal Reserve report showed<\/a> that inflation did not rise as much as expected in August.<\/p>\n \u201cNow we have a jobs report that is a little bit lukewarm,\u201d he conceded. \u201cBut if you look inside, 12,000 of the jobs were factory construction jobs. So, there are 112,000 people building factories right now that weren\u2019t doing it when President Trump took office, and so those factories are going to turn into future jobs and we\u2019re seeing it even with the groundbreaking the president did yesterday in Texas. And so we\u2019re very, very happy with the numbers this week and I think the markets are, too.\u201d<\/p>\n Hassett conceded the jobs report was “a little lukewarm,” but said he was “very, very happy” with the broader economic picture.<\/p>\n Friday\u2019s jobs report also showed a slight rise in the umemployment rate over the past month, from 4.1 percent to 4.2 percent.<\/p>\n Get the best of The Beast delivered right to your inbox<\/p>\n One reason for this, Hassett said, was how \u201cpeople are seeing the strong labor market and saying, oh, I need to get back to the labor force because I\u2019m going to make so much money.\u201d<\/p>\n The economy gained just 29,000 jobs in September against expectations of 90,000.<\/p>\n Hassett then spoke about the exodus of federal government workers under Trump.<\/p>\n \u201cWe looked very carefully at D.C. area employment, and those government workers that have left have found jobs,\u201d he said. \u201cIn fact, the job market is stronger now without those government workers here than it was before we let them go.\u201d<\/p>\n Meanwhile on Friday, news of the poor jobs report on sister station Fox Business Network was delivered grimly. <\/p>\n \u201cThe numbers do not look good,\u201d said host Taylor Riggs, who then called them \u201ca significant slowdown.\u201d <\/p>\n Former Trump economic adviser Steve Moore weighed in: \u201cWell, obviously it\u2019s a disappointing number. I was hoping for closer to 75,000 to 100,000 jobs.\u201d<\/p>\n In August, 133,000 jobs were added\u2014a downward revision from the original estimate of 162,000.<\/p>\n The economy remains top of mind for many Americans, and it\u2019s an issue where the GOP does not have the edge going into the midterms, polls have shown. For instance, one August survey<\/a> by Focaldata found Americans felt that Democrats were more trustworthy on inflation, cost of living, and jobs. <\/p>\n Gas prices in particular have driven<\/a> many away from Trump. The national average is $4.40\u2014up from $2.98 in late February, before the president began his war on Iran.<\/p>\n Unlock a year of full access to The Daily Beast for $35.<\/p>\n What’s IncludedUnlimited access (web + app)Exclusive ad-free newslettersCommenting accessDaily crosswordSneak peek of launches & events<\/p>\n Auto-renews at $5.99 monthly. 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Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack\u2019s Privacy Policy<\/a>.<\/p>\n Looks like you already have a subscription!<\/p>\n You’re all set!<\/p>\n Thanks for subscribing.<\/p>\n Back to plans<\/p>\n Subscription$0.00<\/p>\n Total$0.00<\/p>\n Continue with GoogleContinue with FacebookLoading subscription options Register below to read this article for free\u00a0 or subscribe SubscribeRegister<\/p>\n What’s IncludedUnlimited access (web + app)Exclusive ad-free newslettersCommenting accessDaily crosswordSneak peek of launches & events<\/p>\n Auto-renews at $5.99 monthly. Cancel anytime<\/p>\n What’s IncludedDiscounted annual rate – Save 47%Unlimited access (web + app)Exclusive ad-free newslettersCommenting accessDaily crosswordSneak peek of launches & events<\/p>\n Auto-renews at $59.99 yearly. Cancel anytime<\/p>\n Best Value<\/p>\n What’s IncludedDiscounted annual rateFull access to the Daily Beast Substack ($60 value)*Premium ad-free readingUnlimited access (web + app)Exclusive ad-free newslettersCommenting accessDaily crosswordSneak peek of launches & events<\/p>\n Auto-renews at $119.99 yearly. Cancel anytime<\/p>\n *Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack\u2019s Privacy Policy<\/a>.<\/p>\n![\"Hassett](\"https:\/\/www.newsbeep.com\/il\/wp-content\/uploads\/2026\/10\/5N5G6WRRQND3DIQB43UUWAX6FE.JPG\")
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