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Revisions in Jobs Report Show a Slower Jobs Market Than Portrayed by White House

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Fox Business: “You’ve got some revisions here that show a much slower jobs market than we thought.”

You always have to look at revisions, which gives you a better look at previous months.

The February and March jobs report are not as good as they seemed at release time. We lost AROUND 150,000 jobs with the revision: The change in total nonfarm payroll employment for February was revised down by 78,000, from +326,000 to +248,000, and the change for March was revised down by 71,000, from +236,000 to +165,000. With these revisions, employment in February and March combined is 149,000 lower than previously reported. CASONE: “I went through and looked at the revisions, they are stunning. He said it, I want to say it again here. There’s 149,000 jobs that disappeared between February and March.

Fox Business: “I went through and looked at the revisions, they are stunning…there’s 149,000 jobs that disappeared between February and March.”

 

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