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Tag: Jobs Report

Federal Watchdog Launches Major Probe Into BLS Economic Data Accuracy

Federal Watchdog Launches Major Probe Into BLS Economic Data Accuracy

Federal Watchdog Launches Major Probe Into BLS Economic Data Accuracy The Department of Labor’s internal watchdog has initiated a comprehensive review into the Bureau of Labor Statistics’ (BLS) methods for collecting and reporting crucial economic data. The probe, formally launched yesterday, September 10, by the Labor Department’s Office of Inspector General (OIG), will scrutinize how the BLS compiles and revises its influential monthly inflation and jobs figures. Assistant Inspector General Laura Nicolosi informed acting BLS commissioner William Wiatrowski in a…

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Market Shrugs Off Record Jobs Revision Amid Dimon’s Warning; Apple Unveils iPhone 17 Series

Market Shrugs Off Record Jobs Revision Amid Dimon’s Warning; Apple Unveils iPhone 17 Series

Market Shrugs Off Record Jobs Revision Amid Dimon’s Warning; Apple Unveils iPhone 17 Series On Tuesday, major stock indices, including the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ), closed in positive territory, defying a significant downward revision in jobs growth and a cautionary outlook from JPMorgan CEO Jamie Dimon. The Bureau of Labor Statistics announced a record-breaking revision, cutting new jobs growth for the year ended March 2025 by 911,000, far exceeding expectations. This marks the largest percentage…

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Wall Street Reacts to Revised Job Data, Eyes Fed’s Rate Decision and Key Inflation Reports

Wall Street Reacts to Revised Job Data, Eyes Fed’s Rate Decision and Key Inflation Reports

Wall Street Reacts to Revised Job Data, Eyes Fed’s Rate Decision and Key Inflation Reports US stocks exhibited mixed performance on Tuesday as investors processed a significant revision to labor market data, which indicated a weaker jobs landscape than previously understood. This new information is now a critical factor influencing expectations for potential interest-rate cuts by the Federal Reserve. On Tuesday, the Dow Jones Industrial Average managed a modest gain of 0.1%. However, the S&P 500 slipped 0.1%, and the…

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US Job Market Teeters on Recession Edge as August Report Reveals Alarming Weakness

US Job Market Teeters on Recession Edge as August Report Reveals Alarming Weakness

US Job Market Teeters on Recession Edge as August Report Reveals Alarming Weakness The U.S. labor market is flashing critical warning signs, with economists like Mark Zandi of Moody’s Analytics asserting the economy is likely “on the edge of recession and may already be in one.” The August jobs report, released just days ago, painted a grim picture, showing a paltry 22,000 jobs added, coupled with revisions indicating a decline in June. This comes as the unemployment rate ticked up…

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US Job Market Stalls in August, Unemployment Hits Four-Year High

US Job Market Stalls in August, Unemployment Hits Four-Year High

US Job Market Stalls in August, Unemployment Hits Four-Year High The latest jobs report, released Friday, paints a sobering picture of the American labor market, showing a significant slowdown in August. The US economy added a mere 22,000 jobs, while the national unemployment rate climbed to 4.3%, marking its highest level in nearly four years. Economists are sounding alarms, with Glassdoor economist Daniel Zhao telling CNN the job market is “stalling” and “slowing to a dangerous speed.” The trend over…

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Fed’s Bowman Pushes for Immediate Rate Cuts Citing Weak Jobs Data

Fed’s Bowman Pushes for Immediate Rate Cuts Citing Weak Jobs Data

Fed’s Bowman Pushes for Immediate Rate Cuts Citing Weak Jobs Data A top Federal Reserve official, Michelle Bowman, has intensified her call for interest rate reductions, asserting that the latest weaker-than-expected U.S. jobs report significantly strengthens the argument for lower rates. Speaking Saturday, Bowman, who was one of two dissenting votes at the recent Fed meeting favoring rate cuts, reiterated her belief that the central bank should implement three rate cuts before the end of 2025. This stance comes after…

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Weak Jobs Data Intensifies Calls for Fed Rate Cuts Ahead of September Meeting

Weak Jobs Data Intensifies Calls for Fed Rate Cuts Ahead of September Meeting

Weak Jobs Data Intensifies Calls for Fed Rate Cuts Ahead of September Meeting A prominent Federal Reserve official is intensifying calls for interest rate cuts, citing the recent weaker-than-expected U.S. jobs report as strong justification. Michelle Bowman, who recently dissented in favor of lowering rates, stated Saturday that the latest labor market data reinforces her belief that the Fed should implement three rate cuts this year. The jobs report, released just days after the Fed’s last meeting where rates were…

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Trump Fires BLS Commissioner Amid Baseless ‘Rigged’ Jobs Report Accusations

Trump Fires BLS Commissioner Amid Baseless ‘Rigged’ Jobs Report Accusations

Trump Fires BLS Commissioner Amid Baseless ‘Rigged’ Jobs Report Accusations President Donald Trump has fired Bureau of Labor Statistics (BLS) Commissioner Dr. Erika McEntarfer, following the President’s unsubstantiated claims that the recently released August jobs report was ‘rigged.’ The move comes after Trump publicly decried the July jobs creation figures, released on August 1, 2025, and accused McEntarfer of manipulating data for political purposes. Trump took to social media and addressed reporters, alleging that the BLS’s findings of only 73,000…

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Conflicting US Jobs Reports Point to Divided Labor Market

Conflicting US Jobs Reports Point to Divided Labor Market

Conflicting US Jobs Reports Point to Divided Labor Market The latest employment figures for June have painted a perplexing picture of the U.S. labor market, with official government data sharply diverging from a key private sector report. This discrepancy, revealed this week, raises questions about the true health and direction of job growth. The U.S. Bureau of Labor Statistics (BLS) reported a higher-than-expected increase of 147,000 jobs in June, pushing the national unemployment rate down to 4.1% from 4.2%. This…

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June Jobs Report Surges, Dashing July Rate Cut Hopes and Boosting Stocks

June Jobs Report Surges, Dashing July Rate Cut Hopes and Boosting Stocks

June Jobs Report Surges, Dashing July Rate Cut Hopes and Boosting Stocks The U.S. labor market demonstrated surprising strength in June, with job growth significantly exceeding forecasts. This robust performance is poised to reduce the likelihood of the Federal Reserve implementing an interest rate cut at its upcoming July meeting, while simultaneously energizing Wall Street. According to the Labor Department’s latest report, the U.S. economy added 147,000 jobs in June, comfortably surpassing economists’ projection of 110,000. Concurrently, the unemployment rate…

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US Labor Market Stumbles: ADP Reports Unexpected Job Losses Ahead of Critical Federal Data Release

US Labor Market Stumbles: ADP Reports Unexpected Job Losses Ahead of Critical Federal Data Release

US Labor Market Stumbles: ADP Reports Unexpected Job Losses Ahead of Critical Federal Data Release The American labor market is showing signs of significant slowdown, with the private sector unexpectedly losing jobs in June, according to new data released Wednesday by payroll provider ADP. This marks the first negative month in over two years and defies economists’ expectations for a substantial gain. ADP’s monthly national employment report indicated a loss of 33,000 jobs, a stark contrast to the 117,500 jobs…

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