How did the Fed create a million non existent jobs?

 Bloomberg:

Fed Confronts Up to a Million US Jobs Vanishing in Revision

BLS issues preliminary benchmark employment revision Wednesday

Economists still view job growth as healthy, albeit moderating





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.
...
I suspect the Biden administration may have been trying to make the job growth look more robust for political reasons.

Comments

Popular posts from this blog

Should Republicans go ahead and add Supreme Court Justices to head off Democrats

29 % of companies say they are unlikely to keep insurance after Obamacare