Fed Confronts Up to a Million US Jobs Vanishing in Revision

[excalibur]

Well, anyone paying attention would have seen the jobs numbers were lies.

Now the BLS is about to set the record straight. But how will the MSM handle these facts?

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(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. ​

​

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.​

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...​

MSN

www.msn.com

 

[SassyIrishLass]

Your government lied to you

 

[boevans]

No lies. Bad estimates.

Trump lost the most jobs since Hoover.

 

[The Duke]

No lies. Bad estimates.

Trump lost the most jobs since Hoover.

They lied out their asses. This is a pattern with these people.

 

[boevans]

The Duke is describing himself.

 

[sparky]

So let's see, the Gub'mit shuts out and dooms over 10 million small biz's, then pats itself on the back when those with the means crawl outta their fascist machinations to stand on their own feet (Vs AARP) to create a f*cking economy, and then have the unmitigated gall to pat themselves on the back for it

~S~

 

[White 6]

Well, anyone paying attention would have seen the jobs numbers were lies.

Now the BLS is about to set the record straight. But how will the MSM handle these facts?

​

(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. ​

​

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.​

​

...​

MSN

www.msn.com

It will be interesting to see what the revision is on Wednesday.

 

[The Duke]

So let's see, the Gub'mit shuts out and dooms over 10 million small biz's, then pats itself on the back when those with the means crawl outta their fascist machinations to stand on their own feet (Vs AARP) to create a f*cking economy, and then have the unmitigated gall to pat themselves on the back for it

~S~

Sounds about right.