The US Labor Department has issued revised job growth numbers. 818,000 fewer jobs were added from April 2023 through March 2024 than was originally reported.

    Posted by MiserableMulberryMan

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    1. MiserableMulberryMan on

      From the article;

      >The revisions were unusually large, and were on the upper end of forecasters’ expectations, although a few economists had predicted a reduction of as much as one million jobs.

      The potential conspiracy is that the Labor Department has been exaggerating the employment numbers in order to maintain a narrative of a strong economy. The monthly jobs report is a major segment on all of the cable news outlets, and almost without fail the report was outperforming expectations, leaving outlets like Fox News scrambling for alternative avenues of attack. Turns out the estimates were, in fact, too good to be true.

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