The Washington Post on Nostr: Labor market was weaker than previously reported in big fix to jobs data ========== ...
Labor market was weaker than previously reported in big fix to jobs data
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The Bureau of Labor Statistics revised job growth data, showing the U.S. added 818,000 fewer jobs from April 2023 to March 2024, marking the largest revision in 15 years; this revision suggests the Federal Reserve may need to cut interest rates more aggressively; unemployment rate remained under 4% during this period; Jared Bernstein defended the labor market's strength, while Donald Trump criticized the revisions as a 'massive scandal'; the revisions indicate an average of 174,000 jobs created per month, down from 243,000; the unemployment rate rose to 4.3% in July 2024; Fed Chair Jerome H. Powell's upcoming speech at the Jackson Hole Economic Symposium is highly anticipated for insights on potential rate cuts.
#LaborMarket #JobGrowth #FederalReserve #BureauOfLaborStatistics #InterestRates #Unemployment #EconomicPolicy #Revisions #Trump #Biden
https://www.washingtonpost.com/business/2024/08/21/job-gains-revisions-federal-reserve/
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The Bureau of Labor Statistics revised job growth data, showing the U.S. added 818,000 fewer jobs from April 2023 to March 2024, marking the largest revision in 15 years; this revision suggests the Federal Reserve may need to cut interest rates more aggressively; unemployment rate remained under 4% during this period; Jared Bernstein defended the labor market's strength, while Donald Trump criticized the revisions as a 'massive scandal'; the revisions indicate an average of 174,000 jobs created per month, down from 243,000; the unemployment rate rose to 4.3% in July 2024; Fed Chair Jerome H. Powell's upcoming speech at the Jackson Hole Economic Symposium is highly anticipated for insights on potential rate cuts.
#LaborMarket #JobGrowth #FederalReserve #BureauOfLaborStatistics #InterestRates #Unemployment #EconomicPolicy #Revisions #Trump #Biden
https://www.washingtonpost.com/business/2024/08/21/job-gains-revisions-federal-reserve/