Since March the economy has added 818,000 fewer jobs than previously reported. If the numbers had been accurate we probably would have had a rate cut earlier. The whole purpose of the rate increases was to slow down hiring. Mission accomplished.
Biggest downward revision since 2019. (See graph)
If you are looking for positive news,
“The realization that the economy created fewer jobs than initially estimated [does not] change the broader trends in GDP growth, stock market and wealth gains, and consumption," RBC Capital Markets US economist Michael Reid wrote in a note to clients on Aug. 16.”
Lmao. Geraldo carries lying regime’s water again…shocker
This caught my attention looking at the six month disparity.
Economy for the rich, regular folks don't need jobs.