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

[LaDairis]

Debt is being added at an unsustainable clip.

Trump at least tried to get PAUL RYAN to cut spending. RYAN refused. Now it is Pelosi...


We need a SPEAKER like

 

[BluesLegend]

Trump's numbers looked too good so the deep state revised how the numbers are calculated, shocker. Tune in never when they go back and revise all Obama's numbers using the same measure.

 

[Brain357]

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." ...

Reality is catching up...

 

[Brain357]

Trump's numbers looked too good so the deep state revised how the numbers are calculated, shocker. Tune in never when they go back and revise all Obama's numbers using the same measure.

Yes they revised using real numbers rather than polls...

 

[litman]

This board is looking more like a comedy site rather than serious political discussion. When you have people that refuse to except fact calling it the deep state shows they have no idea what is really going on or just plain lying because they really know that trump is a fraud and don't want to admit just how bad he really is. Ya he is the chosen one(by Satan)

 

[theHawk]

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." ...

Record low unemployment isn’t a fantasy.
New job numbers may be revised down, still doesn’t change the fact that new jobs were added.

Kind of hard to add new jobs when everyone already has a job.

 

[Harpy Eagle]

You know me. When Trump is wrong, I am all over his ass. I am beholden to NO ONE!!!

Do you think the actions take by Trump in the "trade war" will eventually help the U.S. economy and any way?

So far, the only positive I have seen helps a very limited sector of the economy, but has harmed the majority. What say ye?

.

As I will gladly give him props when he does something good.

The only real positive I see is if we can get China to quit demanding IP rights to sell there.

We are not going to shift all the manufacturing back to the US nor should we. If they can do it cheaper and just as well we should take advantage of that.

One if the big pushes is to open up their market more for us, but what do we make that they would even by if you removed some of the tariffs? Are they going to buy a Mustang or a F150?

Farmers are being wiped out by this trade war, despite all the money given to them to help. Emotions are so high in the farming community right now, especially in the mid-west grain farmers.

I spent the last couple days on a crop tour, and it was insane. At one of the nightly meetings they had to have a police presence because the meeting the previous night got out of hand. Then a farmer made a death threat against a USDA official, leading to the USDA pulling all there folks from the Crop Tour. This tour has been happening for more than 25 years and nothing like this has happened before. Farmers on on edge, they see their futures going down the drain right now.

We well might not ever get back some of the market that we had, others have stepped into fill the void.

I am not sure what Trump can get from the Chinese in the form of a new trade deal that will offset the damage done.

 

[Harpy Eagle]

If racking up the National Debt is the mark of a great President, then Obama and W were the top 2....

If racking up the National Debt is actually bad for America, theh W and O were the worst 2....

Trump is adding debt faster than Obama did.

No he isn't...but I've told you Obama was costly...we will be paying for his fuck ups for years....

I posted this Friday..the numbers are valid of that date.

If you count starting with their first budget year...

In 8 years Obama added an average of $2,848,864,083 to the debt each and every day.

In the 683 days of Trumps admin he has added $3,070,630,794 to the debt each and every day.

Trump is adding debt even faster than Obama did.

 

[Harpy Eagle]

Trump's numbers looked too good so the deep state revised how the numbers are calculated, shocker. Tune in never when they go back and revise all Obama's numbers using the same measure.

You people are so stupid.

They did not revise the way the numbers are calculated...I cannot decide if you really this stupid or really this dishonest...maybe both.

The BLS always revises their initial report as more data comes in. This is not new under Trump or even under Obama...it has always happened.

This has nothing to do with the non-existent deep state

 

[LaDairis]

In 8 years Obama added an average of $2,848,864,083 to the debt each and every day.

In the 683 days of Trumps admin he has added $3,070,630,794 to the debt each and every day.

When NEWT was Speaker, the US added

ZERO

new debt each day....

 

[Harpy Eagle]

In 8 years Obama added an average of $2,848,864,083 to the debt each and every day.

In the 683 days of Trumps admin he has added $3,070,630,794 to the debt each and every day.

When NEWT was Speaker, the US added

ZERO

new debt each day....

The day he took over as Speaker the US national debt stood at $4,798,116,945,333.39.
The day he left office as Speaker the US national debt stood at $5,614,217,021,195.87

While that was a good for years, it was not zero.

Debt to the Penny (Daily History Search Application)

 

[Rambunctious]

If racking up the National Debt is the mark of a great President, then Obama and W were the top 2....

If racking up the National Debt is actually bad for America, theh W and O were the worst 2....

Trump is adding debt faster than Obama did.

No he isn't...but I've told you Obama was costly...we will be paying for his fuck ups for years....

I posted this Friday..the numbers are valid of that date.

If you count starting with their first budget year...

In 8 years Obama added an average of $2,848,864,083 to the debt each and every day.

In the 683 days of Trumps admin he has added $3,070,630,794 to the debt each and every day.

Trump is adding debt even faster than Obama did.

We are still at war Gator...so I don't care about debt and deficits until we win this war.....we still have men and women in harms way...

 

[Agit8r]

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

Right. It is a recession for everyone but the feudal lords.

 

[Harpy Eagle]

If racking up the National Debt is the mark of a great President, then Obama and W were the top 2....

If racking up the National Debt is actually bad for America, theh W and O were the worst 2....

Trump is adding debt faster than Obama did.

No he isn't...but I've told you Obama was costly...we will be paying for his fuck ups for years....

I posted this Friday..the numbers are valid of that date.

If you count starting with their first budget year...

In 8 years Obama added an average of $2,848,864,083 to the debt each and every day.

In the 683 days of Trumps admin he has added $3,070,630,794 to the debt each and every day.

Trump is adding debt even faster than Obama did.

We are still at war Gator...so I don't care about debt and deficits until we win this war.....we still have men and women in harms way...

Damn, what a good little sheep you are. The war will never end, that is the point of it. We have basically been at war since the 1950s.

 

[Rambunctious]

If racking up the National Debt is the mark of a great President, then Obama and W were the top 2....

If racking up the National Debt is actually bad for America, theh W and O were the worst 2....

Trump is adding debt faster than Obama did.

No he isn't...but I've told you Obama was costly...we will be paying for his fuck ups for years....

I posted this Friday..the numbers are valid of that date.

If you count starting with their first budget year...

In 8 years Obama added an average of $2,848,864,083 to the debt each and every day.

In the 683 days of Trumps admin he has added $3,070,630,794 to the debt each and every day.

Trump is adding debt even faster than Obama did.

We are still at war Gator...so I don't care about debt and deficits until we win this war.....we still have men and women in harms way...

Damn, what a good little sheep you are. The war will never end, that is the point of it. We have basically been at war since the 1950s.

I'm a sheep because I want our troops to have the best of everything?.....

 

[Harpy Eagle]

Trump is adding debt faster than Obama did.

No he isn't...but I've told you Obama was costly...we will be paying for his fuck ups for years....

I posted this Friday..the numbers are valid of that date.

If you count starting with their first budget year...

In 8 years Obama added an average of $2,848,864,083 to the debt each and every day.

In the 683 days of Trumps admin he has added $3,070,630,794 to the debt each and every day.

Trump is adding debt even faster than Obama did.

We are still at war Gator...so I don't care about debt and deficits until we win this war.....we still have men and women in harms way...

Damn, what a good little sheep you are. The war will never end, that is the point of it. We have basically been at war since the 1950s.

I'm a sheep because I want our troops to have the best of everything?.....

you are a sheep because you approve of keeping our troops in harms way for no good fucking reason.

probably because you were never a troop yourself.

most of you war-hawks have never seen the inside of a squad bay.

 

[Rambunctious]

you are a sheep because you approve of keeping our troops in harms way for no good fucking reason.

probably because you were never a troop yourself.

most of you war-hawks have never seen the inside of a squad bay.

I'm not in charge of our troops....I can't bring them home or I would....I was in both Iraq and Afghanistan...and its no fun...I know what its like to go through the green zone gates without a porcelain insert because we don't have enough...Trump is trying to get us out...but you don't like him...you would rather have Obama's VP as president....that is stupid....

 

[Harpy Eagle]

I'm not in charge of our troops....I can't bring them home or I would....I was in both Iraq and Afghanistan...and its no fun...I know what its like to go through the green zone gates without a porcelain insert because we don't have enough...Trump is trying to get us out...but you don't like him...you would rather have Obama's VP as president....that is stupid....

If Trump wanted us out, we would be out. you might have noticed that Trump pretty much does what he wants to do.

Nope, I do not want Biden, he is even worse than Trump.

Our military is not underfunded. Since you served you know how much waste and mismanagement there is.

Also, we are adding a trillion dollars a year to the deficit, that is not all going to the DOD

 

[Rambunctious]

I'm not in charge of our troops....I can't bring them home or I would....I was in both Iraq and Afghanistan...and its no fun...I know what its like to go through the green zone gates without a porcelain insert because we don't have enough...Trump is trying to get us out...but you don't like him...you would rather have Obama's VP as president....that is stupid....

If Trump wanted us out, we would be out. you might have noticed that Trump pretty much does what he wants to do.

Nope, I do not want Biden, he is even worse than Trump.

Our military is not underfunded. Since you served you know how much waste and mismanagement there is.

Also, we are adding a trillion dollars a year to the deficit, that is not all going to the DOD

We are not the only nation in the field dummy...we can't just pick up and leave for that reason and many more reasons....give Trump 8 years like Obama and we will be out victoriously...

 

[Rambunctious]

I'm not in charge of our troops....I can't bring them home or I would....I was in both Iraq and Afghanistan...and its no fun...I know what its like to go through the green zone gates without a porcelain insert because we don't have enough...Trump is trying to get us out...but you don't like him...you would rather have Obama's VP as president....that is stupid....

If Trump wanted us out, we would be out. you might have noticed that Trump pretty much does what he wants to do.

Nope, I do not want Biden, he is even worse than Trump.

Our military is not underfunded. Since you served you know how much waste and mismanagement there is.

Also, we are adding a trillion dollars a year to the deficit, that is not all going to the DOD

Bush sent us into two wars when we were not ready to even fight one....Obama failed to increase military spending and our troops were left scrambling for spare parts...Trump has increased military sending and he had to placate Pelosi to get it...if you are worried about the deficit call Pelosi....anyone that is complaining about debt and the deficit are not thinking about our men and women in harms way...