https://www.usatoday.com/story/mone...wer-than-believed-after-revisions/2076069001/ US has half a million fewer jobs than believed after big government revision The Labor Department revised down total job gains from April 2018 to March 2019 by 501,000, the agency said Wednesday, the largest downward revision in a decade. The agency’s annual benchmark revision is based on state unemployment insurance records that reflect actual payrolls while its earlier estimates are derived from surveys. The preliminary figure could be revised further early next year. The large change means job growth averaged 170,000 a month during the 12-month period, down from the 210,000 initially estimated, according to JPMorgan Chase.
B-b-but look at carrier! At least he's the only president in history to be trying! Jerbs! Jerbs! Jeeeeeeerbs! Deranged Libtards!
But but what about those tax cuts to cooperations? That tax cut was supposed to create jobs and help the economy. Are you telling me it is all a lie.
Trump drove this economy off a cliff with his pointless trade war. The GOP already cut taxes and rates are still low so we are in a hard spot when the recession hits.
trump attempting to juice the market by re-releasing tomorrow's jobs numbers. Not the first time trump has done this...
Our mistake-in-chief is the poster boy for deeply questionable. As well as grossly unfit, colossally unqualified, morally bankrupt...
Just a reminder that those job numbers won't be the final numbers https://www.marketplace.org/2019/08/23/job-creation-revised-down/ The Bureau of Labor Statistics has revised down its estimate of total U.S. job creation by 501,000 over the period from March 2018 to March 2019. The change results from BLS’s annual benchmarking process, in which BLS recalculates previously-reported monthly employment estimates by checking its statistical samples and modeling against administrative data from state unemployment systems. BLS’s monthly job creation/loss data is based on a survey of 142,000 employers — so called “establishments” — with 689,000 worksites, that provide payroll data to BLS. From that representative sample, BLS extrapolates to estimate the total number of jobs at the country’s 9 to 10 million employers. John Stewart, BLS’s supervisory economist for benchmarking the Current Employment Statistics survey (CES), said “to correct for any errors that have accumulated in our survey estimates over the course of a year,” agency statisticians compare the monthly statistical sampling against an actual count of employees that comes from administrative records of state unemployment insurance systems, which capture more than 98% of all U.S. employees. This is the preliminary revision to the past year’s job numbers; a final revision will be released in February 2020. Stewart said the preliminary revision is typically close to the final revision, varying by an average of 41,000 over the past ten years. This year’s preliminary revision of 501,000 jobs is larger than any since 2009, when the total number of jobs in the economy was revised down by 902,000. The revision for March 2017 to March 2018 was a decline of 16,000 jobs. (See Table 22 here for annual final BLS revisions, 1979-2018.)
It is like someone put their thumb on the scale on the first go round. I am not saying the Criminal in Chief did this. But who here would be surprised if he did?
