Posted on 09/09/2025 11:31:23 AM PDT by lasereye
The US economy employed 911,000 fewer people than originally reported as of March 2025, providing stark new evidence that the labor market was downshifting long before this summer.
The data covers the period from April 2024 to March 2025 and trims the average monthly jobs gains seen during this period (roughly the last 10 months of Joe Biden's presidency and the first two months of Trump's) from a monthly average of 147,000 to about 71,000.
Data had previously suggested the economy added about 1.76 million jobs in that 12-month span.
The new total is less than half that, marking another larger-than-average downward revision that immediately provided fuel for critics of the government's data collection process.
The White House and allies of President Trump quickly seized upon the revisions as showing that the president inherited a weaker economy than previously thought and that, as Vice President JD Vance put it, "It's difficult to overstate how useless BLS data had become."
The revisions also increased political pressure on Jerome Powell, with White House press secretary Karoline Leavitt saying the central banker "has officially run out of excuses and must cut the rates now."
These job revisions are evidence that job growth was "not as strong as the Fed thought," added PNC chief economist Gus Faucher, adding it was evidence that interest rates are currently too high and "the Fed may need to cut interest rates in the near term in order to support the labor market."
The revisions are almost entirely in the private sector, showing 880,000 fewer jobs there, as well as 31,000 fewer government jobs.
The backward-facing data also came in well above the expectations of many economists, who had estimated that these revisions would be hundreds of thousands of jobs lower.
(Excerpt) Read more at finance.yahoo.com ...
This is what he said in June:
"Despite elevated uncertainty, the economy is in a solid position. The unemployment rate remains low, and the labor market is at or near maximum employment," Powell said in his opening testimony before the House Financial Services Committee on Tuesday.
The Fed should not be relying on the jobs numbers at all. I have a theory that Democrats at the Fed, including their economists, persuaded Powell not to cut interest rates by pointing to the strong jobs numbers (while they knew the economy was rapidly decelerating).
I am anticipating that about half the comments will say this is fake, because they didn't bother to read the full story, or have low reading comprehension. It is saying that most of the 12 month timespan where job growth was massively overstated was under Biden. Conservatives were saying during the Biden years that the strong jobs numbers reported during that time were fake. The time period includes Trump's first 2 months in office.
Does this reflect the layoffs in DC?
I’d like to know how anyone thought employment jumped 2.8 million in January ‘25.
https://fred.stlouisfed.org/series/CE16OV
ummm, how do you miss 1 million jobless? Whoopsie.
Biden’s goons LIED saying “Oh the economy is so awesome under Biden” turns out they LIED what else is knew
Most of if not all of the revisions are the result of fake data being reported during the Biden Administration.
Just about everything concerning the Biden Administration was fraudulent.
Biden is sharp as a tack - fraudulent
Biden would never pardon his son - fraudulent
Biden approved all of the pardons - fraudulent
Biden’s economy - fraudulent.
Everything presented to the public about the Biden Administration was a lie.
Hire real americans to do the jobs the illegal South Koreeans were doing.
How about all the alien criminals deported.
The US economy employed 911,000 fewer people than originally reported as of March 2025.
Deportation has good results now American workers can find a job.
from April 2024 to March 2025
Lock in your CD’s if that is your “investment” of choice. I figure the Fed funds rate will be dropping hard.
Overpaid, underworked, government, bureaucrats, and illegals with stolen or fraudulent Social Security numbers
It's almost like some entity was trying to influence an election. Hahahaha, ALMOST, I crack myself up. Trump was 100% justified firing that Beotch = Statistics Commissioner Erika McEntarfer in August.
and the media is still complicit: “roughly the last 10 months of Joe Biden’s presidency and the first two months of Trump’s”
NO- IT WASN’T THE FIRST TWO MONTHS OF TRUMP’S PRESIDENCY!! It was a month and a week....
These are revisions to previously reported numbers. IOW the previous numbers were wrong.
In truth, President Trump started from a lower baseline, although the headline attempts to lay this on his shoulders.
“These are revisions to previously reported numbers. IOW the previous numbers were wrong”
Revisions, most all the revisions DOWNWARD was Bidens time in office. I believe 5-6 weeks were PDT.
Oh, our bad. We were trying to sway an election. Swamp Collusion. Fire these evil people.
Unemployment numbers peak as an economic downturn ends (it’s a lagging indicator). When unemployment starts down again long investors are late to the party.
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