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US job growth during much of the past year was significantly weaker than initially estimated, according to new data released Wednesday. The Bureau of Labor Statistics’ preliminary annual benchmark review of employment data suggests that there were 818,000 fewer jobs in March of this year than were initially reported

s many as a million jobs could vanish from US jobs data in revised numbers released this week. Jobs growth in the year through March was likely much lower than initially estimated, top bankers are warning. This could refuel concerns that the US economy is not as robust as it has appeared, and that the Federal Reserve is falling behind in its aim to lower interest rates. symbol 00:04 02:24 Read More The government will release its first revisions of jobs growth data on Wednesday, and then the final numbers are due early next year. Goldman Sachs economists expect jobs...

Democrats and pundits trying to put a brave face on the selection of Minnesota Gov. Tim Walz (D) as Vice President Kamala Harris’s running mate have sought to emphasize his personality and his life experiences. But none points to his record in his home state, and for good reason: Minnesota has declined significantly under Tim Walz’s leadership. Economically, Minnesota lags behind the rest of the nation, Barron’s reports: “Overall, Minnesota’s economy during Walz’s tenure has grown more slowly than that of the rest of the country.” The Center for the American Experiment adds: “Minnesota recently fell behind the country in...

When performing resistance training such as lifting weights, there's a lot of interest in how close you push yourself to failure—the point where you can't do another rep—and how it affects your results. Researchers analyzed how training close to failure or not impacts muscle growth and strength. The study primarily looked at how training close to failure affects muscle growth in the main muscles used in an exercise. For example, if an individual was doing leg presses, the focus was on how training close to failure affects the quadriceps. Researchers estimated the number of repetitions in reserve, which means how...

One southern city has become a boomer boomtown thanks to an influx of older Americans flocking to its age-restricted, bustling community. Georgetown, Texas is officially the fastest-growing city in the country in part due to its wealthy 55-and-older community called Sun City Texas. An analysis of Census Bureau data for cities with populations of at least 50,000 by The Wall Street Journal found Georgetown has now been the top city for population growth for three years in a row. Georgetown grew 11 percent in 2023, 14 percent in 2022 and 11 percent in 2021. The median age in the boomer-rich...

The majority of job growth in the United States since 2019 has gone to newly arrived migrants as working-class American men continue to fall out of the labor force, an analysis shows. The analysis, published by Steven Camarota at the Center for Immigration Studies, shows the extent to which President Joe Biden’s agenda to grow the labor market with mass immigration — rather than enticing Americans on the sidelines back into work — has been largely executed.

Washington’s addiction to deficit spending — a rare bipartisan habit — is unlikely to change, no matter the electoral outcome in November. A deep conviction exists on both sides of the political divide that fiscal consolidation, whether achieved through less spending or higher taxes, reduces growth. What this political consensus misses, however, are situations in which the classic trade-off is suspended — when smaller deficits can counterintuitively deliver more growth. Today’s macroeconomic environment is ripe for such an approach. Compared to the years before the pandemic, fiscal policy — government spending and taxation — has kept a foot on the...

U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday. Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace when adjusted for seasonality and inflation, according to the department’s Bureau of Economic Analysis. Economists surveyed by Dow Jones had been looking for an increase of 2.4% following a 3.4% gain in the fourth quarter of 2023 and 4.9% in the previous period. Consumer spending increased 2.5% in the period, down from a 3.3% gain...

The US economy grew at a slower pace than expected in the first quarter. The Bureau of Economic Analysis's advance estimate of first quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 1.6% during the period. Economists surveyed by Bloomberg estimated the US economy grew at an annualized pace of 2.5% during the period. The reading came in significantly lower than fourth quarter GDP, which was revised up to 3.4%. The softer-than expected print is a sign that the Federal Reserve's historic interest rate hikes are putting pressure on consumers and the economy. Investors...

The International Monetary Fund boosted its 2024 global growth forecast to 3.2%, holding steady with 2023, compared with its previous outlook that expected 2.9% growth this year and 3.0% in 2023. In addition, headline inflation is projected to drop to 2.8% at the end of 2024 then to 2.4% at the end of 2025. "Most indicators continue to point to a soft landing," the IMF said in its April 2024 World Economic Outlook Report. "We also project less economic scarring from the crises of the past four years, although estimates vary across countries." The U.S. economy has overtaken its pre-pandemic...

During an interview with Univision that took place on March 20 and was released on Tuesday, President Joe Biden responded to a question on what he would say to people who don’t feel economic growth or job creation in their paychecks and pockets by stating that “it’s not yet” reflected and touting his work on overdraft and junk fees. Interviewer Enrique Acevedo asked, “I’ve heard you talk about economic growth, job creation. What do you say to the families — not just Latino families — but families across the country, that don’t feel that economic growth, that job creation reflected...

ABC reported that almost all the strong economic growth in the country is happening in the Red states, proving to them that warm weather causes economic growth. At least that is the explanation that they are going with. That, and Democratic mayors in Red states are attracting young liberal workers. So Texas is going gangbusters because people like hot weather and Democrats.No, I am not kidding. They don't even mention that Republicans run the states. They are Red states because Trump won. Republican governors and legislators apparently are irrelevant. Nearly every week, a fresh round of strong economic data elicits...

CNBC anchor Rick Santelli gushed over a January jobs report that he described as a “WHOPPER” that blew away expectations and featured a “HUGE jump” in average hourly wages. On Friday morning, the Bureau of Labor Statistics released a January jobs report that saw 353,000 jobs added, well above expectations: Total nonfarm payroll employment rose by 353,000 in January, and the unemployment rate remained at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, retail trade, and social assistance. Employment declined in the mining, quarrying, and oil and gas...

Oil prices could soar back into the triple-digits if crude supply faces more pressure – and that could bring global economic growth to a near standstill, according to JPMorgan. In a note on Tuesday, the bank's strategists noted oil prices have jumped 27% over the past month to trade at a 10-month high. Around 25% of that change is attributable to higher-than-expected oil demand, while 75% is attributable to major supply cuts, such as from OPEC+, which has repeatedly slashed its crude production over the past year.

Slippin’ into darkness! Bidenomics, that is! Joe Biden is not a friend of the US middle class. The St Louis Fed’s real time GDP tracker known as Nowcast has Q3 GDP at -0.07%. This happening at M2 Money growth collapses. If you want to feel good, check out Atlanta Fed’s GDPNow estimate (housing economist Raphael Bostic is its President) which has Q3 GDP at 5.6%. When will The Fed return to it low riding rates days? Reverend Biden.

Job growth in the private sector slowed sharply in August, coming in below economists’ expectations and hinting at a cooling labor market. The private sector added only 177,000 jobs in August, according to the latest ADP National Employment report released Wednesday. This marks a significant drop from July’s numbers, which ADP revised upward to 371,000. Economists surveyed by Reuters had anticipated a 195,000 increase in private employment, while those polled by Dow Jones had forecast a 200,000 increase, according to CNBC. “This month’s numbers are consistent with the pace of job creation before the pandemic,” said Nela Richardson, the chief...

Bidenomics just got jolted! US job openings in July collapsed by -22.4% to 8.82 million job openings. As M2 Money growth remains negative. You can see the same collapse in growth of job openings in this chart. Apparently, Powell and The Gang at The Federal Reserve have to keep on printing! Here is alleged Civil Righter advocate Joe Biden saying the N- word in Congress. I can’t believe this stupid, demente fool is our President.

March’s Personal Consumption Expenditures Core Prices remain HOT despite The Fed crashing M2 Money growth. Personal spending in March slowed to 0% growth. The Taylor Rule infers a Fed Funds target rate of 10.27% Alas, we will never get there.

Just because counterproductive economic policies have been around for a long time doesn’t mean we shouldn’t try for a better world. There’s a proven pro-growth, pro-liberty path.Both Republicans and Democrats at the national level have put us down a path of slow growth, massive deficits, and high inflation. With a new Republican majority in the U.S. House and the daunting debt ceiling fight over the bloated $31.4 trillion national debt almost exclusively due to excessive spending, there’s a proven pro-growth, pro-liberty path.In 2022, the U.S. had real GDP growth of just 0.9 percent (Q4-over-Q4), the highest inflation in 40 years,...

China emits 27% of global carbon dioxide and one-third of the world’s greenhouse gases. That exceeds those of the U.S. and other developed countries combined. Fundamentally, a nation’s capacity to grow, prosper, and safeguard the environment hinges on the quality of its institutions and economic system. It’s the freer economies that do a far better job of achieving more dynamic growth while creating a healthier, cleaner natural environment.