September 5, 2025: Economic storm clouds gather

The private sector jobs boom that President Donald Trump pledged to deliver in his second term is starting to look shaky — and that raises the political stakes for this morning’s new monthly jobs report. Weak numbers — or substantial revisions to previously reported gains — would blow a hole in the Trump administration’s claims its agenda has unleashed a new “Golden Age” for American workers — and could portend a turbulent path ahead for the U.S. economy. Playbook’s Zack Stanton and POLITICO White House reporter Megan Messerly sort out what to expect as the spin cycle fires up. Plus: the Defense Department gets a rebranding, and the Justice Department opens a criminal probe into Lisa Cook.