(Bloomberg) -- US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates. Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government's preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated " about 50,000 a month. While JPMorgan Chase & Co. forecasters see a decline of about 360,000, Goldman Sachs indicates it could be as large as a million. There are a number of caveats in the preliminary figure, but a downward revision to employment of more than 501,000 would be the largest in 15 years and suggest the labor market has been cooling for longer " and perhaps more so " than originally thought. The final numbers are due early next year.
Especially now that I have to wait until the election is over and gone before we can see the final number of lies.
So TRUE! 162 lies and distortions in a news conference in 64 minutes.
this bodes well for the Federal Reserve to drop interest rates!
#11 | POSTED BY YAV
How so? My understanding is only when wages and employment are up would they consider it.
April 3, 2024
The overall number of jobs rose above pre-pandemic levels in June 2022 and in December 2023 was 5.0 million jobs higher than in February 2020.
www.cbpp.org
#10 | POSTED BY TONYROMA
The jobs reports have all been downgraded since the time of this release.
We also know payrolls are up by 6.2 million since May of 2022, but full time employment up only 264 thousand.
My guess is "jobs" is both partime and full time in your articles numbers.
We also know most fulltime jobs went to non-native born (including newcomers). Data from the Bureau of Labor Statistics (BLS) for the month of May shows that foreign-born workers in the United States gained 637,000 jobs year-over-year, while native-born workers lost roughly 299,000.
Also
No wonder Americans view economy so terribly: they aren't the ones w/ the jobs; native-born employment is not only millions below pre-pandemic trend, but even below pre-pandemic level, while millions more foreign workers are employed today than Feb '20, and back to trend:
x.com
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