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The morning after, now what?
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Ratickle
Founding Member / Super Moderator
I'm sure nothing to do with any of Biden's key speeches, like State of the Union or anything.....
Jobs report is exaggerating U.S. employment gains
The government’s estimate of new job gains has overstated the increase in hiring in 15 of the past 17 months dating to the start of 2023. The jobs report has overstated the gain in new jobs by an average of 50,000 a month from January to May.
The report originally showed a 272,000 increase in new jobs in May, for instance, but was revised down last Friday to 218,000. That’s a 54,000 reduction.
Or take January. The preliminary estimate of a stunning 353,000 increase in new jobs was later revised down to 256,000. That’s a 97,000 drop.
Jobs report is exaggerating U.S. employment gains
The government’s estimate of new job gains has overstated the increase in hiring in 15 of the past 17 months dating to the start of 2023. The jobs report has overstated the gain in new jobs by an average of 50,000 a month from January to May.
The report originally showed a 272,000 increase in new jobs in May, for instance, but was revised down last Friday to 218,000. That’s a 54,000 reduction.
Or take January. The preliminary estimate of a stunning 353,000 increase in new jobs was later revised down to 256,000. That’s a 97,000 drop.
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