US has half a million fewer jobs than believed after big government revision

[Denizen]

The Donald Trump fantasy is unraveling as the economy is rising at the rate that Obama created. Donald Trump has done nothing positive for the economy and it is arguable that his effect has been negative in regard to tariffs and military spending.

Donald Trump has one level of expertise that has featured in the US economy. That is debt.

US debt is rising faster than any other economic indicator.

US has half a million fewer jobs than believed after big government revision

US has half a million fewer jobs than believed after big government revision
Paul Davidson, USA TODAY Published 3:49 p.m. ET Aug. 21, 2019 | Updated 5:20 p.m. ET Aug. 21, 2019

The labor market seemed to defy gravity last year, generating more than 200,000 jobs a month despite a historically low unemployment rate that made it harder for employers to find workers.
Turns out job growth wasn’t as robust as it appeared.

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.

Employment in several industries was revised down especially sharply. Payrolls dropped 175,000 in leisure and hospitality, and 146,000 in retail – two bellwether service sectors that depend heavily on consumer spending, the economy’s main engine.
Employment also fell by 163,000 in professional and business services and 69,000 in education and health services.
Some industries saw their job figures revised up modestly, with a gain of 33,000 in information – including movies, broadcasting, publishing, telecommunications and some technology services – and 20,000 in financial activities.
The revised payroll data is more in line with what economists had expected at the start of 2018 in light of the roughly 4% unemployment rate that signaled fewer available workers, and an aging population.
"The mystery was how the economy is continuing to get 200,000 jobs a month," says economist James Marple of TD economics. "It's less of a mystery now."

The new figures also could have political implications. President Trump regularly touted last year's blockbuster job figures, which many economists traced to the federal tax cuts and spending increases he spearheaded. The economy did grow 2.9% last year, matching its best performance since the 2007-09 recession. But growth has slowed this year and the jobs revisions indicate the economy may have had less momentum than believed heading into 2019.
"It's a moderate economy," says Joe Naroff, chief economist of Naroff Economic Advisors. "It's not a strong economy." ...

 

[Harpy Eagle]

Less than 2 minutes till the sheep blame this on the deep state

 

[Rambunctious]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

 

[Dekster]

Say it ain't so.......of course I am the guy who thinks we are still in the great recession dead zone regardless of what either party says

 

[Taz]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

You realize that Trump is the biggest liar of all?

 

[rightwinger]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

Winner, winner, Chicken Dinner

DEEP STATE

 

[Rambunctious]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

You realize that Trump is the biggest liar of all?

No I didn't I'm too busy looking for a new doctor and healthcare plan....

 

[Harpy Eagle]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

You realize that Trump is the biggest liar of all?

No I didn't I'm too busy looking for a new doctor and healthcare plan....

sucks to be you. I have had the same of both for 11 years now.

 

[Rambunctious]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

You realize that Trump is the biggest liar of all?

No I didn't I'm too busy looking for a new doctor and healthcare plan....

sucks to be you. I have had the same of both for 11 years now.

 

[Harpy Eagle]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

You realize that Trump is the biggest liar of all?

No I didn't I'm too busy looking for a new doctor and healthcare plan....

sucks to be you. I have had the same of both for 11 years now.

ahh....poor little triggered snowflake.

 

[Rambunctious]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

You realize that Trump is the biggest liar of all?

No I didn't I'm too busy looking for a new doctor and healthcare plan....

sucks to be you. I have had the same of both for 11 years now.

ahh....poor little triggered snowflake.

 

[Harpy Eagle]

You realize that Trump is the biggest liar of all?

No I didn't I'm too busy looking for a new doctor and healthcare plan....

sucks to be you. I have had the same of both for 11 years now.

ahh....poor little triggered snowflake.

Triggered again...poor little snowflake, I am so sorry to have been so mean to you.

Go run off to your safe space and draw some rainbow pictures.

 

[Rambunctious]

No I didn't I'm too busy looking for a new doctor and healthcare plan....

sucks to be you. I have had the same of both for 11 years now.

ahh....poor little triggered snowflake.

Triggered again...poor little snowflake, I am so sorry to have been so mean to you.

Go run off to your safe space and draw some rainbow pictures.

 

[debbiedowner]

The Donald Trump fantasy is unraveling as the economy is rising at the rate that Obama created. Donald Trump has done nothing positive for the economy and it is arguable that his effect has been negative in regard to tariffs and military spending.

Donald Trump has one level of expertise that has featured in the US economy. That is debt.

US debt is rising faster than any other economic indicator.

US has half a million fewer jobs than believed after big government revision

US has half a million fewer jobs than believed after big government revision
Paul Davidson, USA TODAY Published 3:49 p.m. ET Aug. 21, 2019 | Updated 5:20 p.m. ET Aug. 21, 2019

The labor market seemed to defy gravity last year, generating more than 200,000 jobs a month despite a historically low unemployment rate that made it harder for employers to find workers.
Turns out job growth wasn’t as robust as it appeared.

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.

Employment in several industries was revised down especially sharply. Payrolls dropped 175,000 in leisure and hospitality, and 146,000 in retail – two bellwether service sectors that depend heavily on consumer spending, the economy’s main engine.
Employment also fell by 163,000 in professional and business services and 69,000 in education and health services.
Some industries saw their job figures revised up modestly, with a gain of 33,000 in information – including movies, broadcasting, publishing, telecommunications and some technology services – and 20,000 in financial activities.
The revised payroll data is more in line with what economists had expected at the start of 2018 in light of the roughly 4% unemployment rate that signaled fewer available workers, and an aging population.
"The mystery was how the economy is continuing to get 200,000 jobs a month," says economist James Marple of TD economics. "It's less of a mystery now."

The new figures also could have political implications. President Trump regularly touted last year's blockbuster job figures, which many economists traced to the federal tax cuts and spending increases he spearheaded. The economy did grow 2.9% last year, matching its best performance since the 2007-09 recession. But growth has slowed this year and the jobs revisions indicate the economy may have had less momentum than believed heading into 2019.
"It's a moderate economy," says Joe Naroff, chief economist of Naroff Economic Advisors. "It's not a strong economy." ...

The headlines on Drudge.

 

[Andylusion]

The Donald Trump fantasy is unraveling as the economy is rising at the rate that Obama created. Donald Trump has done nothing positive for the economy and it is arguable that his effect has been negative in regard to tariffs and military spending.

Donald Trump has one level of expertise that has featured in the US economy. That is debt.

US debt is rising faster than any other economic indicator.

US has half a million fewer jobs than believed after big government revision

US has half a million fewer jobs than believed after big government revision
Paul Davidson, USA TODAY Published 3:49 p.m. ET Aug. 21, 2019 | Updated 5:20 p.m. ET Aug. 21, 2019

The labor market seemed to defy gravity last year, generating more than 200,000 jobs a month despite a historically low unemployment rate that made it harder for employers to find workers.
Turns out job growth wasn’t as robust as it appeared.

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.

Employment in several industries was revised down especially sharply. Payrolls dropped 175,000 in leisure and hospitality, and 146,000 in retail – two bellwether service sectors that depend heavily on consumer spending, the economy’s main engine.
Employment also fell by 163,000 in professional and business services and 69,000 in education and health services.
Some industries saw their job figures revised up modestly, with a gain of 33,000 in information – including movies, broadcasting, publishing, telecommunications and some technology services – and 20,000 in financial activities.
The revised payroll data is more in line with what economists had expected at the start of 2018 in light of the roughly 4% unemployment rate that signaled fewer available workers, and an aging population.
"The mystery was how the economy is continuing to get 200,000 jobs a month," says economist James Marple of TD economics. "It's less of a mystery now."

The new figures also could have political implications. President Trump regularly touted last year's blockbuster job figures, which many economists traced to the federal tax cuts and spending increases he spearheaded. The economy did grow 2.9% last year, matching its best performance since the 2007-09 recession. But growth has slowed this year and the jobs revisions indicate the economy may have had less momentum than believed heading into 2019.
"It's a moderate economy," says Joe Naroff, chief economist of Naroff Economic Advisors. "It's not a strong economy." ...

And yet, unemployment is low, the economy is still good.

Whether there are more or fewer, doesn't really matter, as long as people are employed, and the economy is still trucking.

 

[debbiedowner]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

Well here it is taken off the front page of drudge to market watch the orange buffoon has fooled you again. What a sheep tard.

U.S. created 500,000 fewer jobs since 2018 than previously reported, new figures show

 

[Rambunctious]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

Well here it is taken off the front page of drudge to market watch the orange buffoon has fooled you again. What a sheep tard.

U.S. created 500,000 fewer jobs since 2018 than previously reported, new figures show

You guys can dig and post all the scare tactic stories about the economy all the way up to November 2020...the people know better....we are better off under Trump than Obama....you will never be able to change that....The Labor Dept is full of shit...period....

 

[Denizen]

Rising minimum wages will soon cause increased job losses.

The Trump economy is a fantasy built on escalating debt and gig employment.

Trump's GDP never rose faster than Obama's.

 

[Crepitus]

The Donald Trump fantasy is unraveling as the economy is rising at the rate that Obama created. Donald Trump has done nothing positive for the economy and it is arguable that his effect has been negative in regard to tariffs and military spending.

Donald Trump has one level of expertise that has featured in the US economy. That is debt.

US debt is rising faster than any other economic indicator.

US has half a million fewer jobs than believed after big government revision

US has half a million fewer jobs than believed after big government revision
Paul Davidson, USA TODAY Published 3:49 p.m. ET Aug. 21, 2019 | Updated 5:20 p.m. ET Aug. 21, 2019

The labor market seemed to defy gravity last year, generating more than 200,000 jobs a month despite a historically low unemployment rate that made it harder for employers to find workers.
Turns out job growth wasn’t as robust as it appeared.

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.

Employment in several industries was revised down especially sharply. Payrolls dropped 175,000 in leisure and hospitality, and 146,000 in retail – two bellwether service sectors that depend heavily on consumer spending, the economy’s main engine.
Employment also fell by 163,000 in professional and business services and 69,000 in education and health services.
Some industries saw their job figures revised up modestly, with a gain of 33,000 in information – including movies, broadcasting, publishing, telecommunications and some technology services – and 20,000 in financial activities.
The revised payroll data is more in line with what economists had expected at the start of 2018 in light of the roughly 4% unemployment rate that signaled fewer available workers, and an aging population.
"The mystery was how the economy is continuing to get 200,000 jobs a month," says economist James Marple of TD economics. "It's less of a mystery now."

The new figures also could have political implications. President Trump regularly touted last year's blockbuster job figures, which many economists traced to the federal tax cuts and spending increases he spearheaded. The economy did grow 2.9% last year, matching its best performance since the 2007-09 recession. But growth has slowed this year and the jobs revisions indicate the economy may have had less momentum than believed heading into 2019.
"It's a moderate economy," says Joe Naroff, chief economist of Naroff Economic Advisors. "It's not a strong economy." ...

So much for the "huge job gains" huh?

 

[debbiedowner]

The Labor Department is one department still filled with Obama clowns...and please....USA Today?...it must be hard to debate a political point for libs since all of their sources are fake news liars....

Well here it is taken off the front page of drudge to market watch the orange buffoon has fooled you again. What a sheep tard.

U.S. created 500,000 fewer jobs since 2018 than previously reported, new figures show

You guys can dig and post all the scare tactic stories about the economy all the way up to November 2020...the people know better....we are better off under Trump than Obama....you will never be able to change that....The Labor Dept is full of shit...period....

You're being led off a cliff and last time I looked the Department of Labor is in the your orange buffoons administration.