Job growth revised downward

[RobDownSouth]

Many years ago, the Smartest Guy on the General Board (self-proclaimed) said gummint numbers were always...ALWAYS...revised downward.

We laughed at him at the time, because under the Obama administratrion, more often than not this was demonstrably false.

I have to admit, though, under the Trump administration his adage may prove to be true. (I don't have autism, OCD or an inability to admit error, so I can say this).

Anyway

March 2017 job growth revised down to +50K (a loss of 29,000 jobs)
April 2017 job growth revised down to +174K (a loss of 37,000 jobs)

The march to 4.1% GDP continues!

#SoMuchWinning

 

[phrodeau]

http://www.businessinsider.com/us-jobs-report-may-2017-6

The pace of job creation in the US slowed by more than expected in May, and less participation in the labor market helped to push the unemployment rate to a 16-year low.

The economy added 138,000 nonfarm payrolls, while the unemployment rate fell to 4.3%, the Bureau of Labor Statistics said Friday in its monthly report.

Economists had forecast 182,000 nonfarm payrolls and a 4.4% unemployment rate, according to a Bloomberg survey.

 

[RobDownSouth]

http://www.businessinsider.com/us-jobs-report-may-2017-6

Low unemployment rate and fewer jobs created than expected means a rise in workers who have given up looking. Good thing we have a white president now, otherwise the RWCJ would be squealing "But...But...U-6!"

 

[dan_c00000]

Remember when unemployment was at 42%?

 

[RobDownSouth]

Remember when unemployment was at 42%?

Good times, good times.

Back in the day before "alternative facts" became the norm.

 

[lovecraft68]

But yet he tells people to get to work or lose benefits.

 

[Conager]

"More often than not?"

So you're saying that at least 17 times during the Obamas 32 quarters those numbers were revised upwards?

#mathishard