U.S. Treasury Secretary Bessent said on Aug. 8 that the latest employment report understated the underlying strength of the real economy in the United States. In a social media post cited by BlockBeats, Bessent said domestic businesses are building, factories are producing, and worker productivity is rising.
He said employment in goods-producing industries increased for a fifth straight month in July. According to his statement, the sector has added 105,000 jobs so far this year, marking the strongest seven-month start since 2023.
Bessent also said second-quarter productivity growth came in at more than twice the expected pace. He argued that this created favorable conditions for sustained U.S. economic growth and real wage gains for American workers. He added that strong expectations for third-quarter growth pointed to a possible acceleration in the broader economy.
In the same post, Bessent said an economy built on stronger supply-side capacity, rather than short-term stimulus, would support higher wages, stronger businesses, more consumer choice, and lower inflation.
U.S. Treasury Secretary Bessent said on Aug. 8 that the employment report released that day understated the underlying strength of the country’s real economy, according to BlockBeats.
In a social media post, Bessent said domestic businesses in the United States are building, factories are producing, and worker productivity is increasing. He said jobs in goods-producing industries rose for a fifth consecutive month in July.
Bessent also said goods-producing industries have created 105,000 jobs so far this year, which he described as the strongest seven-month start since 2023.
He added that second-quarter productivity growth came in at more than twice the expected level, creating favorable conditions for sustained U.S. economic growth and real wage gains for American workers. Bessent also said strong expectations for economic growth in the third quarter suggested that the U.S. economy could accelerate.
In the same post, he said that when the United States produces more goods and worker productivity keeps rising, the domestic economy benefits through higher wages, stronger businesses, and more choices for consumers. He said economic expansion should rest on supply-side strength that can reduce inflation, rather than on short-lived stimulus effects.
The report cited Jin10 as the source of the remarks.
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