"New figures from the Bureau of Labor Statistics shows that the job market is considerably weaker than initially believed, and has been since April 2024. The revised BLS findings, out Tuesday, showed 911,000 fewer jobs than what was initially reported painting an ugly picture of the U.S. economy over the past year. (BLS) The stats are preliminary, and the final figures will be released early next year, according to the Associated Press."
"The disappointing report has emerged a month after President Donald Trump accused BLS Commissioner Dr. Erika McEntarfer of deliberately manipulating key employment data and fired her inn an explosive statement posted to his social media platform, Truth Social. The post came just hours after the release of a disappointing July jobs report that showed weaker-than-expected hiring and a downward revision for previous months."
"Last week, the monthly jobs report for July the first since McEntarfer's ouster showed just 22,000 jobs were added in August, a drop from 79,000 in July. The report also bumped up unemployment to 4.3%."
New Bureau of Labor Statistics figures show the job market is considerably weaker than previously believed, with revisions stretching back to April 2024. The revised findings reduced the reported job count by 911,000, portraying a deteriorating U.S. employment picture over the past year. The statistics are preliminary, with final figures scheduled for release early next year. The report followed President Donald Trump's accusation that BLS Commissioner Dr. Erika McEntarfer manipulated employment data and his subsequent firing of her. The July jobs report showed weaker hiring and downward revisions, and the first post-ousting monthly report reported only 22,000 jobs added in August and unemployment rising to 4.3%.
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