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Joe Weisenthal
@TheStalwart
This seems like the big headline. Those two strong post-tariff jobs reports may have been a total mirage
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Joe Weisenthal
@TheStalwart
BREAKING: SLIGHT MISS 73K new jobs, unemployment rises to 4.2% Economists had expected 104K new jobs, and a 4.2% unemployment rate bloomberg.com/news/live-blog
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David Watson 🥑
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Aaron Astor
@AstorAaron
Just curious but why would there be revisions of this magnitude? Is it bc of cuts at the BLS and difficulty compiling the data?
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Rio Veradonir
@RioVeradonir
Predictable.
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Rio Veradonir
@RioVeradonir
When Thomas Sowell says Trump’s tariffs are “a catastrophic mistake”, conservatives listen. Unfortunately, most Trump voters are not conservative. foxbusiness.com/politics/trump
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Tripp Pemberton
@SVP_of_Retail
Serious Q. With weeks jobs and June and May totals revised down by a combined 258,000 & unemployment rate at 4.2%. Does this mean that there are just way fewer people searching for jobs? Shouldn’t the unemployment rate be higher?
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Ali
@MerruX
So adp was right with its estimate.. issue is rising core inflation which one does Powell choose to deal with stagflation
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cpt.grumpus
@cptgrumpus
How do they fuck this up so bad. Seems like every administration always gets it wrong, then quietly revises the numbers down later
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firewalled 540s a historic engine
@firewalled540s
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zerohedge
@zerohedge
Liesman "no evidence jobs numbers are politicized" Well, there was the whole 1 million downward job revision in August 2024, three weeks before the Fed cut rates 50bps two months before the 2024 election to get Kamala elected. But aside from that
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pagang
@pagan_marx
You jinxed it lol
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Joe Weisenthal
@TheStalwart
Man, the number of times the American economy has been counted out
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JMS86
@sr_fuerte_
Why do people actuality follow the BLS jobs numbers if they're revised downwards the vast majority of the time?
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Richard Donelan
@rdone
And the accuracy of BLS statistical data under Trump is now open for angst among those who pay attention to such matters.
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Bob
@Bobsquestions
And yet, Powell - who must’ve known about these substantial downward adjustments before speaking this week - continues to proclaim the job market is generally strong, thereby justifying keeping rates higher than virtually every other central bank.
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The Lazy Dilettante
@Emackulating
Yeah may or may not have to do with this admin firing half the folks responsible for keeping track of these things (likely intentionally at that) and just putting out imaginary #’s
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chip
@chipaces_
How do revisions like these even happen? A few % pts is understandable … but -86% / -90% revs seems crazy enough to throw into question the value of these surveys entirely (Relatedly, any episodes on the logistics & methodology of surveys like this?)
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Fat meatz
@FMeatz
Trump maybe could’ve gotten his cut if the data wasn’t so fudged the past few months. Ironic
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Amy Hunt
@AmyCPV
I'm not a Trump fan and think what he's doing with tariffs will have long-term negative impacts on our country. That said, this kind of data error doesn't do anyone any favors and may have led him to think the impacts were far more benign than most of us would have predicted.
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Meerkats
@MeerkatsRMammal
OF COURSE they're cooking the numbers. It's exactly what they accused Dems of doing previously. Always projection w/ these folks.
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Joshua P. Cohen
@JoshuaPCohen1
Correct. No-one in their right mind believed the May and June jobs reports were accurate. Well, except perhaps for some irrational fools. Tariffs are BAD for the economy. Period.
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ike martin
@ikemart87171530
This isn't worrisome. Trump was wrong about one thing. With all the deportations, those jobs aren't black jobs. They're MAGA jobs. Now, you magats have your pick of jobs to help the economy. From strangling chickens for the colonel, working in food plants, or picking strawberries
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Stu (Tariff Inspector) Parnell
@Stu_parnell
Hey Joe - not sure how a 30% whiff can be called a “small miss” unless you meant to use the sarcasm font and just forgot. Run the numbers without health care workers and it’s a 3 month decline.
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KingJiggly
@GlorneC
You might want to consider that illegal immigrant job #’s went down and native born #’s went up. Nothing to do with tariffs.
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🇨🇦🇨🇦🇨🇦 JAY 🇨🇦🇨🇦🇨🇦
@jaydparkinson
It wasn’t a mirages. It was an intentional lie. Start using the word lying when Our talking about the Trump regime. They aren’t making mistakes, they are lying.
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