The really scary part of the article is that the revised June numbers were almost 100,000 more than the initial figure. I can understand when the number is off by 10% or 20% but 76% but come on do they really think we are that stupid. Someone is screwing around with numbers either intentionally or the government is even more inept then we all thought.
US job losses are double expected figure
Employers in the US shed twice as many jobs as expected in July, fanning fears that the recovery in the world's largest economy will not see a revival in employment.
The US government said 131,000 jobs were lost overall, mainly due to work finishing for temporary staff hired by the government to conduct its census. But private hiring was also weaker than expected.
Economists polled by Reuters ahead of the data had expected July's non-farm payroll data to show a drop of 65,000 after a fall of 125,000 in June. They forecast that private sector jobs would rise by 90,000, but in the event only 71,000 were added.
At the same time, June's overall drop was revised to a far steeper 221,000.
No comments:
Post a Comment