Labor Secretary Lori Chavez-DeRemer Talks Jobs Data

Summary

Podcast Summary: Bloomberg Talks

Episode: Labor Secretary Lori Chavez-DeRemer Talks Jobs Data

Date: November 20, 2025
Host: Bloomberg News Anchor
Guest: U.S. Labor Secretary Lori Chavez-DeRemer
Additional Guest: Economic Analyst D. Riemer

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Episode Overview

This episode centers on a timely discussion with U.S. Labor Secretary Lori Chavez-DeRemer about the latest U.S. jobs data. The conversation breaks down key labor market trends, the effect of Federal Reserve rate policy, inflation pressures, government versus private sector job growth, proposed rebate checks from tariffs, and anticipated changes to the tax code. The conversation is frank, focused, and packed with practical insight into the challenges and opportunities the labor market faces as of late 2025.

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Key Discussion Points & Insights

1. Jobs Report & Economic Strength

[00:27–01:56]

• Strong September Jobs Data:

  • The September jobs report exceeded expectations: 119,000 new jobs, more than double the expected figure.
  • Most job growth (97,000 of 119,000) was in the private sector; blue-collar wages are up and consumer confidence is strengthening.

• Secretary Chavez-DeRemer’s Summary:

  • “119,000 new jobs. I think that is a solid report for the American people and for the workforce.” (00:57)
  • She credits the gains to administration investments and cites rising real wages, especially for blue-collar workers.

2. Federal Reserve Rate Cuts & Policy

[01:56–03:10]

• Push for Further Rate Cuts:

  • Secretary Chavez-DeRemer calls for another Fed cut, echoing business owners’ desire for lower borrowing costs to fuel private-sector growth.
  • Contrasts current private-sector job growth with previous government-led job increases.
  • Cites “GDP is up 4.2%” (02:18).

• Key Quote:

  • “Those business owners are wanting to borrow more money at a cheaper rate to invest in their workforce. … Another rate cut is exactly what we need to really grow this workforce.” (02:18)

3. Inflation, Affordability, and Worker Impact

[03:10–04:39]

• Addressing Inflation Concerns:

  • Inflation is acknowledged, especially its impact on lower-income Americans.
  • Cites tax policy as a tool for increasing after-tax incomes:
    • “No tax on tips, no tax on overtime, no tax on Social Security.”
    • Claims real wages are up $700 per family—contrasting with a $3,000 decrease under the previous administration.

• Key Quote:

  • “These policies … are going to start to hit—no tax on tips, no tax on overtime, no tax on Social Security. … People want to see more of their hard-earned dollar in their own pockets.” (03:28)

• Continued Inflation Risks:

  • When pressed about persistent 3%+ inflation, Chavez-DeRemer asserts that prices on key goods (food, energy) are falling, with Thanksgiving meals allegedly cheaper than during the Biden era.

4. Private Sector vs. Government Jobs

[05:13–06:17]

• Clarification on Government Jobs Growth:

  • Secretary Chavez-DeRemer clarifies that recent government job growth is confined to state and local levels, not at the federal level.
  • Reinforces administration’s focus on private-sector job creation as a response to the prior administration’s emphasis on federal hiring.

• Key Quote:

  • “The government jobs haven't grown. The only portion … has been at the state and local level, not at the federal level. … Out of these 119,000 jobs, 97,000 … were in the private sector.” (05:39)

5. Tariff Rebates & Support for Lower-Income Households

[06:17–07:24]

• On Proposed $2,000 Tariff Rebate Checks:

  • Secretary Chavez-DeRemer supports the idea, calling it a way to “give back to the American people” and emphasizing President Trump's reputation as a “president for the working family.”

• Key Quote:

  • “These dollars … are coming in from tariffs to give back to the American people. … He is the president for the men and women of this country.” (06:38)

6. Upcoming Tax Code Clarifications

[07:24–07:43]

• Tax Exemptions & Timeline:

  • While specifics are lacking, Chavez-DeRemer expects updates on overtime tax exemptions and tax code changes to start rolling out in the first and second quarters.

• Key Quote:

  • “Any specifics I don't have on an actual release date. But again, 119,000 jobs I think is a solid report.” (07:43)

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Notable Quotes & Memorable Moments

• On the progress in wages:
  • “We've seen again, these real wages go up almost $700. And I think that's going to be key, way different than the Biden administration, you know, when wages were down almost $3,000.” — Laurie Chavez-DeRemer, (03:28)
• Reaffirming administration focus:
  • “Every decision I make at the Department of Labor is through the lens of the men and women who have built this country and they deserve to be taken care of.” — Laurie Chavez-DeRemer, (06:38)

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Timestamps for Key Segments

• Strong Jobs Growth & Economic Overview: 00:27–01:56
• Debate on Fed Rate Cuts & Policy: 01:56–03:10
• Inflation, Affordability, Worker Impact: 03:10–04:39
• Private Sector vs. Government Jobs Breakdown: 05:13–06:17
• Tariff Rebate Checks Discussion: 06:17–07:24
• Upcoming Tax Policy Clarification: 07:24–07:43

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Conclusion

This episode delivers a robust breakdown of the latest jobs data and its wider implications for the U.S. workforce, monetary policy, and working families. Secretary Chavez-DeRemer voices strong support for further Fed rate cuts, emphasizes private-sector job growth, champions policy changes to increase take-home pay, and signals administrative readiness to deliver direct relief via tax and tariff rebates. The conversation is driven by a focus on practical benefits for workers and positioning the administration as responsive to the everyday American labor force.

Transcript

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[News Anchor]

Let's turn back to this morning's jobs data. Jobs growth accelerated in September, showing signs of a stabilizing labor market before the government shut down. Joining us to discuss, we are pleased to say, is the U.S. labor Secretary, Laurie Chavez. Dreamer, dreamer. Ms. Secretary, thank you so much for your time this morning. Let me first ask you about the headline numbers. It was a blowout. We were only expecting 51,000 in our survey and far more than double that is what we got. How strong is this economy?

[Labor Secretary Laurie Chavez]

Well, 119,000 new jobs. I think that is a solid report for the American people and for the workforce. We have seen over and over again, you know, that we want to have these gains and it's those investments by this administration and this president I think is what you're seeing come online. So this was a solid report for the September numbers. We'll have to see how November numbers come out in mid December. But I think that this is good for the American people. We know that more people are wanting to, to work and they're actively seeking those jobs. And so it is my responsibility to make sure that we have that skilled workforce. And so I think that you're going to see consumer confidence and again, with prices coming down, energy prices, gas prices, we're seeing, you know, real wages go up. Blue collar wages have gone up over the last 60 years. And I think that that's the exciting part of this, is that we're seeing people who are wanting to get on the ground, have the skills that they need and get in that workforce.

[Economic Analyst D Riemer]

Secretary Chavez, D Riemer, you might sound very similar to who don't want this Fed to cut, that this is a healthy labor market. The president, though, even jokingly yesterday was saying Scott Bessant would be fired had he not been able to get this Fed to cut. So in your view of this labor market, is it strong enough that it doesn't need assistance from the Fed?

[Labor Secretary Laurie Chavez]

Well, I think the president has been pretty clear on this issue. We did see the two rate cuts. I think the Fed does need to go ahead and cut again. You know, when I travel around the country talking to businesses, which I have hit 36 out of 50 states on my 50 state tour before, you know, the Democratic shutdown happened. Those business owners are wanting to borrow more money at a cheaper rate to invest in their workforce. That is what they're asking. And so I think another rate cut is exactly what we need to really grow this workforce. I mean, we see GDP is up 4.2%. I think that that's positive growth. And we want to see more private sector jobs come online. Out of the 119,000 jobs we saw, 97,000 of those jobs have been in the private sector, which is way different than the Biden administration when we saw they were all government jobs. So I think we're on the right track.

[News Anchor]

It does seem like inflation is a concern. We heard that from Wal Mart today, that it's got to pass through these tariff costs somehow. Are you not worried that we have a rise in inflation that hits lower income workers especially hard if we continue to cut rates?

[Labor Secretary Laurie Chavez]

Well, I think what happens when you're talking to the American families, every day, they want affordability, so they look for ways in order to provide for their families. As a former congresswoman and as a former mayor, I know how important that is. Each and every day. What we want to do is grow this workforce so that they can have more money in their own pockets. These policies that came forward with the working family tax cut are going to start to hit no tax on tips, no tax on overtime, no tax on Social Security. I think that that's what people want to see is more of their hard earned dol in their own pockets for their own choices. We've seen again, these real wages go up almost $700. And I think that that's going to be key, way different than the Biden administration, you know, when, when wages were down almost 3,000. And so, you know, do we have $700 more in a family's pocket? That matters to the American people.

[News Anchor]

Don't we lose some of those dollars if we continue to see 3% plus inflation on top of the inflation that we saw during the Biden administration? Prices continue to climb for everything. Housing, isn't that a concern if we continue to cut rates, that we, that we throw more fuel on that inflation fire?

[Labor Secretary Laurie Chavez]

Well, actually, food prices have been down. Energy prices have been down. We've heard over and over again our Thanksgiving meal is going to be less than it was under the Biden administration. So while we have seen oftentimes that, you know, some prices have gone up, whether it's in beef and some of the other sectors, we have seen housing, we certainly want to Address the housing costs because people want to be able to afford their homes. I think that the Fed rate cutting will give us exactly that. So I'm, I'm standing behind the president on this. I think we need another rate cut.

[Economic Analyst D Riemer]

It's been a little bit secretary again.

[Labor Secretary Laurie Chavez]

Too long down that Runway. But we need to cut that rate.

[Economic Analyst D Riemer]

Part of what you're saying, you want to cut the rate because you want more private sector hiring. We hear you loud and clear on that. But we have to say this latest jobs report, government jobs grew. Do you want to see that reverse? Why is it growing when this is a government that's been trying to cut back on what you say was a Biden administration that only supported the economy through hiring via the government?

[Labor Secretary Laurie Chavez]

The government jobs haven't grown. The only portion of government jobs that has grown in this last report that is showing have been at the state and local level, not at the federal level. Over 2 million private sector jobs have come online and that has been for native born. We are seeing massive amounts of the private sector. Out of these 119,000 jobs, 97,000 of those were in the private sector. We're going to do more and more with the private sector to grow this economy opposite than what the Biden administration did where they were all federal jobs. That isn't what the mandate was when they elected President Trump. It was to grow the private sector economy. And that is exactly what's happening.

[News Anchor]

One of the other things the president is talking about is sending middle to lower income Americans rebate checks from the tariffs, which have been behind a lot of the inflation that we've seen. So giving some of that money back to those earning a little bit less. Do you support that, you know, $2,000 check push?

[Labor Secretary Laurie Chavez]

Well, certainly the president has been in consultation with his economic team. I think this is one way to give back to the American people. You know, people work hard for their money and when they provide that to the government, they have a contract that's going to be spent wisely. These dollars, though, are coming in from tariffs to give back to the American people. And I think that that is a good plan that the president has set forth. He will continue in consultation with his economic team and what he determines. You know, he's a man of the people. I say this, you see on my building, I hang his banner because he is the president of the working family. He is the president for the men and women of this country. Every decision I make at the Department of Labor is through the lens of the men and women who have built this country and they deserve to be taken care of. And that's exactly what the president has been doing.

[Economic Analyst D Riemer]

Ms. Secretary, before we let you go, just quickly, I know we're looking for a little bit of guidance on some of the tax code changes, specifically who's going to be exempted from overtime tax or who's going to get that overtime tax exemption. Do you have any clarity on that or at least a timeline of when we can expect the Labor Department to come out with those clarifications?

[Labor Secretary Laurie Chavez]

Well, I'll be working with Treasury Secretary and certainly through the Department of Labor. I would imagine that with those policies in place from the working family tax cut, that we'll start to see stuff in the first and second quarter. But any specifics I don't have on an actual release date. But again, 119,000 jobs I think is a solid report. I'll be looking forward to see what the numbers are for November, which will be released in mid December. And I know the economists all got it wrong on this. And so this is good for the American people that we saw a solid report of 119000 jobs.

[Economic Analyst D Riemer]

Ms. Secretary, thank you so much for joining us this morning. That is the labor Secretary, Laurie Chavez Darimar. And of course, tomorrow, don't miss another important conversation. Fed Governor Stephen Myron on Bloomberg Surveillance. That will happen at 8:30am Wall street time.

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