Fox News host Laura Ingraham pressed Treasury Secretary Scott Bessent on Friday night over signs of weakening labor market conditions, asking why job losses appear to be increasing even as inflation continues to ease.
During the interview, Ingraham cited newly published data showing that the U.S. unemployment rate reached a four-year high in November, raising concerns about the broader health of the economy. She asked directly, “What’s the reason job losses seem to be going up?”
The figures referenced during the segment were reported this week by The Wall Street Journal and were based on a delayed government employment report released Tuesday. According to the data, the national unemployment rate rose to 4.6 percent in November, marking the highest level recorded in more than four years.
The discussion came moments after Bessent highlighted economic progress made under President Donald Trump, particularly pointing to declining inflation. Bessent said inflation had been reduced to approximately 2.2 percent, framing it as evidence that administration policies were stabilizing prices and easing cost pressures on consumers.
Ingraham responded by noting that while inflation had fallen, other indicators were moving in the opposite direction. She pointed out that unemployment had increased and that earnings growth, while still positive, had slowed compared to earlier periods.
“So, inflation’s down, but unemployment ticked up a bit, to a four-year high in November,” Ingraham said during the exchange. “Earnings growth slowed — still going up, but slowed a little bit.”
The contrast highlighted a growing concern among economists and policymakers that progress on inflation may be accompanied by cooling labor market conditions. Some analysts have warned that aggressive efforts to curb inflation can slow hiring and lead to job losses, particularly in interest-rate-sensitive sectors.
Bessent emphasized that economic transitions often involve short-term adjustments and suggested that inflation control remains a necessary priority to protect long-term growth. He indicated that the administration is closely monitoring employment trends while continuing to focus on stabilizing prices.
The interview reflects a broader national debate over whether the economy is entering a period of softening growth after years of elevated inflation and labor shortages. Rising unemployment, even at modest levels, can become a politically sensitive issue, particularly as election season approaches.
While a 4.6 percent unemployment rate remains low by historical standards, the upward trend has drawn attention because of its speed and timing. Economists note that labor market shifts often lag other economic indicators, meaning job losses can emerge even after inflation begins to decline.
The data and Ingraham’s questioning underscore the challenge facing policymakers: balancing inflation control with job growth while avoiding a broader economic slowdown. How the administration responds to these trends is likely to remain a key focus in the months ahead.
For now, the exchange highlights that while inflation may be easing, concerns about employment are moving to the forefront of the economic conversation, raising questions about what the next phase of the economy will bring.