U.S. Added 818,000 Fewer Jobs Than Reported Earlier
The Labor Department issued revised figures for the 12 months through March that point to greater economic fragility.
I read of doubts of the monthly jobs report about a month ago.
What I read was that the jobs reports were not in sync with other economic data. Those doubts turned out to be founded. Today's revision is an unusually steep 28% mis-count.
The updated numbers are the latest sign of vulnerability in the job market, which until recently had appeared rock solid despite months of high interest rates and economists’ warnings of an impending recession. More recent data...suggest job growth slowed further in the spring and summer, and the unemployment rate... has been gradually rising.
POWELL MUST NEEDS CUT INTEREST RATES NOW!
