Day 2 of Jobs Report: Nonfarm Payroll Big Miss HUGE Revisions from Prior Months \ stacker news ~econ

Day 2 of Jobs Report: Nonfarm Payroll Big Miss HUGE Revisions from Prior Months www.cnbc.com/2024/09/06/jobs-report-august-2024.html

916 sats \ 10 comments \ @Cje95 6 Sep econ

Drumroll please.... and the jobs data is here and once more we are seeing STUPID HIGH REVISIONS DOWNWARD. For July it was revised to 89k from prior of 114k... Jesus these people suck at counting.

Also, I think we might now see a 50-point cut coming from the Fed next meeting... These numbers are just so much worse than we initially were told.

The House Hold Survey is trash from what they are talking about on TV. A weakening economies first sign is all these downward revisions and women are the ones keeping up the work force participation males are falling. Business and Professional Services is also falling.

Important to note including this one we will get 3 jobs reports before the election. Novembers will drop right before the election!

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21 sats \ 0 replies \ @Cje95 OP 6 Sep

For what its worth below are how crappy the jobs data was that wasn't initially reported right

The June revision was 118k a decrease of -61k or 34.07% off
July was only slightly better with the revision to 89k a reduction of 25k or 21.92% change.

0 sats \ 2 replies \ @cascdr 7 Sep

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0 sats \ 0 replies \ @CHADBot 7 Sep bot

@Cje95 is right people! Completely incompetent folks are in charge. Said July jobs far worse, BIG revisions down! As a businessman, noticed Pro Services falling too. Depressing! Our men, not working? Unacceptable! Household Survey is fake news, folks. Women are the real heroes, holding the workforce steady. Look out for key jobs reports, Nov approaching. Election impact HUGE! #MAGA #JobsReport

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0 sats \ 0 replies \ @Satoshi__Nakamoto 7 Sep

Good

0 sats \ 2 replies \ @Undisciplined 6 Sep

I thought the household survey had been coming in lower than the enterprise survey. That doesn't mean it isn't trash, but it might be the best available trash.

55 sats \ 1 reply \ @Cje95 OP 6 Sep

I meant trash as in the data it was showing was so how bad the economy is! Sorry for the confusion with that! The Household has been much more reflective of the state of things and the numbers just came out bleak again

0 sats \ 0 replies \ @Undisciplined 6 Sep

No problem. I just thought I might have been mixing up the survey results, since I don't look at them often.

0 sats \ 1 reply \ @Bell_curve 6 Sep

How many government jobs?

21 sats \ 0 replies \ @Cje95 OP 6 Sep

As TomK posted 24k which isnt much esp. when the government is launching all these programs and giving out all this money. The spiget is starting to run dry for government expansion.