Jobs Numbers Revision "up to" 1 Million lower than reported

Damocles

Damocles

Accedo!
Staff member
finance.yahoo.com

Fed confronts up to a million US jobs vanishing in revision

(Bloomberg) -- US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates. Most Read from BloombergA Floating Island in Baltimore Raises Hope for a...
finance.yahoo.com finance.yahoo.com

(Bloomberg) — US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.
 
Phantasmal said:
Meh, the economy is still in great shape. The opposition can’t campaign against it. Job reports are often adjusted after the initial report.
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boy-meets-world-laughing.gif
 
BartenderElite said:
The market is about to hit 41K.

Even w/ a jobs adjustment, over 14 million jobs have been added since the worst jobs President in modern American history. I think working people will vote accordingly.
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Bullshit peddler peddling bullshit. Democrats are the dumbest assholes on the planet. :laugh:
 
BartenderElite said:
As someone who supports Harris - I'm happy to have this election be about jobs. Especially w/ Trump on the other side.
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I'm reminded of Darla, she's an OG liberal poster (long time posters know who she is) who had real liberal street cred on here. I can vividly remember a really good jobs report in 2005 (that someone posted on here) and her response wasn't "hey, that's great for the country" or anything along those lines it was "are they good jobs? are they good paying jobs? or are they people having to get second or third jobs trying to survive?"

The reason she asked that of course was because in our partisan world here she didn't want to be perceived as giving credit to a Republican Administration, so she was trying to put a negative spin on it. At the same time, it's a very fair question she was asking because economists definitely dig deep into the jobs data to attempt to answer questions like that.

There's a really really good chance that if Darla were still posting here she would not ask that same question today. But to that point, jobs are obviously very important. People not having jobs is a real issue. But people tend to act like jobs numbers are the entire economy. As we've seen during the peak of inflation people can have a job yet still fall further behind as costs increase more than what they are making. In such a scenario they tend not to think of the economy as great or be as bullish.

The same goes for other cost of living factors such as housing. This board is dominated by Boomers and I'm guessing most own their homes here. In such a scenario, when you see your asset appreciating, you probably feel pretty good. The flip side is those who don't own and with housing costs hitting record peaks the dream of home ownership feels even further away. So yes, having a job is extremely important but simply having a job doesn't mean people feel all is good in the economy.
 
Real unemployment has been holding steady at 25% for 5 years.
All the layoff announcements were only a speed bump for the markets. Walt is the only one denying the fed is still throwing money at Wall Street.
Our rulers know they have to come up with some sort of UBI (Universal Basic Income) for all the chronic unemployment, sick and disabled, and our aging population. There have to be quite a few in their 90s who've been on SSI for 30 or 40 years and about to be thrown in the street.

The market makers are pushing hard for all types of a cbdc. Our overlords are out to steal all our money. It doesn't matter if you're a democrat or republican.
 
Damocles said:
finance.yahoo.com

Fed confronts up to a million US jobs vanishing in revision

(Bloomberg) -- US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates. Most Read from BloombergA Floating Island in Baltimore Raises Hope for a...
finance.yahoo.com finance.yahoo.com

(Bloomberg) — US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.
Click to expand...
OOPS!
 
BartenderElite said:
The market is about to hit 41K.

Even w/ a jobs adjustment, over 14 million jobs have been added since the worst jobs President in modern American history. I think working people will vote accordingly.
Click to expand...
Oh I absolutely think that hard working people will vote accordingly ... The last four years have been difficult for a huge number of Americans... Her unexplained "plans" would make trying to get ahead or just break even more miserable...
 
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Damocles said:
finance.yahoo.com

Fed confronts up to a million US jobs vanishing in revision

(Bloomberg) -- US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates. Most Read from BloombergA Floating Island in Baltimore Raises Hope for a...
finance.yahoo.com finance.yahoo.com

(Bloomberg) — US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.
Click to expand...
Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government’s preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month.

While JPMorgan Chase & Co. forecasters see a decline of about 360,000, Goldman Sachs indicates it could be as large as a million.

There are a number of caveats in the preliminary figure, but a downward revision to employment of more than 501,000 would be the largest in 15 years and suggest the labor market has been cooling for longer — and perhaps more so — than originally thought. The final numbers are due early next year.

Such figures also have the potential of shaping the tone of Fed Chair Jerome Powell’s speech at week’s end in Jackson Hole, Wyoming. Investors are trying to gain insight as to when and how much the central bank will start lowering interest rates as inflation and the job market cool.

SO IF THIS IS EVEN TRUE, WHAT THIS MEANS IS THE BIDEN ADMINISTRATION ONLY CREATED 14 MILLION JOBS THIS YEAR INSTEAD OF THE 15 MILLION THE BUREAU OF LABOR AND STATISTICS ORIGINALLY PROJECTED!

WHOOPTY FUCKING DOOOOOOOOOOOOOOOOOOOOOOOOO!
 
Damocles said:
finance.yahoo.com

Fed confronts up to a million US jobs vanishing in revision

(Bloomberg) -- US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates. Most Read from BloombergA Floating Island in Baltimore Raises Hope for a...
finance.yahoo.com finance.yahoo.com

(Bloomberg) — US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.
Click to expand...
Thanks, I’ll wait for the actual revision. And then I’ll wait for the recession you have told us is coming for the last three years. And wait. And wait. What’s hilarious is that even if the million revision is accurate, job growth has been absolutely outstanding during the Biden administration. This is a ‘who cares’ situation.
 
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