The number is always contrived, exaggerated, plus, it counts government jobs, which should, count as (-1) job. Horse hockey.
Last month’s downward revision is a killer. That’s more than 1/3 of the jobs they say were created. I can see paperwork snafus that account for a couple percentage points....but 1/3+...that’s crazy.
Job growth in the U.S. is slowing, the Labor Department confirmed today, reporting that 169,000 jobs were added in August as unemployment fell to 7.3 percent.
Economists were expecting a gain of 180,000 jobs, according to a Bloomberg survey. They expected unemployment to stay at 7.4 percent.
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Those two sentences together make no sense whatsoever to a sane person.