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During an interview with ABC News on Wednesday, Commerce Secretary Gina Raimondo, who appeared in her personal capacity, said that she was “not familiar with” the Bureau of Labor Statistics revising the number of jobs created down by over 800,000. Host Kayna Whitworth asked, [relevant exchange begins around 2:00] “I am curious as to your thoughts on today, the Bureau of Labor [Statistics] saying that more than 800,000 fewer jobs were actually created than initially reported. And I — we have a soundbite here…because Donald Trump is already addressing this on the campaign trail.”

The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, the Labor Department reported Wednesday. As part of its preliminary annual benchmark revisions to the nonfarm payroll numbers, the Bureau of Labor Statistics said the actual job growth was nearly 30% less than the initially reported 2.9 million from April 2023 through March of this year.

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...

President Joe Biden got some bad news on the eve of the first presidential election: the government’s estimate of inflation in the first quarter of the year was revised higher. The Bureau of Economic Analysis said that the personal consumption expenditure price index rose at an annual pace of 3.4 percent in the first three months of the year, far faster than the 1.8 percent recorded at the end of last year and up from the 3.3 percent estimated in the prior report issued in May. The personal consumption expenditure (PCE) price index is used by the Fed as the...

The U.S. economy grew less than previously thought in the first three months of the year, expanding at an annual pace of just 1.3 percent, revised government data showed Thursday. The downward revision was primarily driven by data showing that consumer spending grew by significantly less than previously estimated. This was the smallest expansion in gross domestic product in almost two years. The prior estimate had the economy growing at a 1.6 percent pace in the first quarter. Consumer spending grew an an annualized pace of two percent in the first quarter, the new figures show, down from the previous...

The GDP report, which was released in the wake of a global stock market sell-off, should offer assurance to both investors and cautious Fed officials that the United States was in good shape to weather the growing strains in the world economy. Concerns over slowing economic growth in China sent global equity markets into a tailspin last week, raising doubts that the U.S. central bank would raise its short-term interest rate next month. On Wednesday, New York Fed President William Dudley said that prospects of a September lift-off in the central bank's key lending rate "seems less compelling to me...

Developing. Analysts expect to see 370K weekly claims. That would exactly be in line with last week's 370K. The number is one of the best high-frequency predictors of the economy and the market, so this is big. If this stays tame, it will do a lot to assure that things aren't deteriorating too badly. UPDATE: The number is 383K, a miss from an upwardly revised.

As always happens, the BLS revised last week's non-credible mega miss even worse, from 412K to 416K. As for this week, the number will end up being worse than 403K, which is what was reported for this week, to be revised upward to 406K or so next week. This is (and will be) much higher than the expected 390K. And so Tim Geithner has to start his latest "Welcome to the Recovery - edition 2011" draft from scratch. Continuing claims also were well above expectations, printing 20K over consensus at 3,695K. Last week's number of 3,680K was revised, gee, higher...

RUSH: By the way, do you remember that big, big report, economic growth, fourth quarter of last year, 3.2%, remember that? What did we tell you? We told you to hang on, sit tight, be patient for the revised number. It won't be that good. And it wasn't. "The U.S. economy grew at a 2.8 percent annual rate in the fourth quarter, slower than previously calculated and less than forecast as state and local governments made deeper cuts in spending." Once again, economic growth revised downward, not 3.2%, but rather 2.8% in the fourth quarter. I'd like to hearken back...

SACRAMENTO – Gov. Arnold Schwarzenegger on Monday released a revised state budget that calls for spending slightly more than he proposed in January, even as the state's soft housing market is expected to depress tax revenue in the coming year. Most of the increase in the nearly $104 billion general fund budget goes to education. In January, the governor's office had predicted that revenue from higher local property taxes would offset mandated increases in public school spending. That calculation appears to have been off, with the governor's office now estimating nearly $900 million in additional education expenses in the coming...

SACRAMENTO – Gov. Arnold Schwarzenegger will propose a revised state budget Friday that uses most of a $4.5 billion windfall in unexpected tax revenue to pay down debt and build a larger budget reserve, rather than pay off a disputed “loan” to schools, administration officials said yesterday. Schools will get their regular share of the new revenue as required by the Proposition 98 school-funding guarantee, the officials told reporters in a briefing. The Schwarzenegger aides would discuss the budget only on condition of anonymity. But they refused to discuss the governor's plans, if any, to deal with a $3.2 billion...

WASHINGTON - Senate Republicans unveiled revised immigration legislation Wednesday night that would clear the way for legal status and eventual citizenship for many of the estimated 11 million men, women and children living in the United States unlawfully. Majority Leader Bill Frist outlined the proposal after efforts at a bipartisan compromise faltered earlier in the day and the Senate teetered between accomplishment and gridlock on the most sweeping immigration bill in two decades. Senate Democratic leader Harry Reid pledged to review the GOP proposal overnight to see whether "it could be something we could all support." The prospects appeared uncertain,...

2/9/2006 - WASHINGTON -- The Air Force released a revised version of its religious guidelines Feb. 9, its latest step in a process started after a review at the U.S. Air Force Academy indicated a need for additional guidance. Air Force Directorate of Personnel officials issued a first set of interim guidelines in August. The newly revised version was written after getting diverse feedback and careful consideration of the U.S. Constitution, laws and military necessity. “This interim guidance outlines the basic principles we expect all military and civilian Airmen to follow as we solidify formal policy,” said Lt. Gen. Roger...

Eugene Robinson at the Washington Post thinks we have a "bauble economy" -- its all just a "giant Ponzi scheme." The facts just keep contradicting him. Today, the Bureau of Labor Statistics reported that "employment grew by 215,000 in November." On Wednesday, the Bureau of Economic Analysis revised our national GDP for the 3rd quarter upwards to 4.3% from an initial estimate of 3.8% On the astonishing job creation, from CNNMoney.com: "This is another affirmation that we've gotten over the shock of the hurricanes and the economy is back on track to where it was before," said Mark Vitner, senior...

SACRAMENTO (AP) - State senators assailed a revised state prison guard contract as fatally flawed and said it would set a precedent preventing lawmakers from refusing to fund the pact in the future. Sen. Dede Alpert, D-San Diego, chairwoman of the special committee overseeing the contract, said Monday she couldn't support a fatally flawed deal that would steal power from lawmakers. She said lawmakers had already made terrible mistakes tying guard raises to pay hikes at the California Highway Patrol. "The Legislature bears much of the responsibility and has to accept that responsibility," she said in concluding the meeting. "But...

Guantanamo interviews to be revised in spy scare By David Rennie in Washington (Filed: 06/10/2003) A line-by-line review has been ordered of every interrogation at the Guantanamo Bay prison camp involving an air force interpreter suspected of espionage and treason. Intelligence officers face the nightmare prospect that Ahmad al-Halabi, a Syrian-born linguist who served at the camp in Cuba for eight months, may have edited or deliberately distorted information given by al-Qa'eda and Taliban suspects during interrogation sessions.Tapes of those interrogations - some lasting hours - are being freshly translated. "If the subject answered 'five' and [Halabi] told interrogators he...

<p>SACRAMENTO (AP) - More bad news is expected to roll out of the governor's office about noon on Wednesday, as the administration releases its revised budget proposal.</p> <p>Insisting most of the big decisions were still being debated until a Friday deadline, Gov. Gray Davis declined late last week to share any details about the new spending plan. The only thing for certain, staff members say, is that a lot more money needs to be trimmed from the near-$100 billion state budget.</p>

The PRESIDING OFFICER (Mr. Coleman). The Senator from Vermont.    Mr. LEAHY. Mr. President, we have heard a lot about Mr. Estrada and whether he has or has not answered questions. Obviously, I believe he has not. The President of the United States again today asked the Senate to do something that no President of either party should ask for. He asked the Senate to vote without having straightforward answers for a nominee for a lifetime position as a Federal judge on one of the most significant courts of this country.    That is not something that would help the Federal judiciary,...

[NOTE: This historical work in progress was made possible by the combined efforts and contributions of American high school students from all across this vast and wonderful land of ours. I offer it here, as a testament and, moreover, as written evidence to the fact that our future rests in the rock-solid hands of a well-educated and remarkably diverse youth. That said, I hereby highly recommend that those of you, who in recent years have joined the ranks of the American educational system's bashers, read the following document and become, as I have, reinvigorated with a newfound level of confidence...