Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Nearly 1 million more jobs were created this year than the government first estimated

by
December 3, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Sam Altman didn’t take any equity in OpenAI, report says

‘It was agony’: Why SVB’s collapse is especially hard as a Black founder, says CEO

A construction worker passes a job site at Metropolitan Park, the first phase of new construction of Amazon’s HQ2 development Arlington, Virginia October 13, 2021.

Kevin Lamarque | Reuters

If you would have believed the Labor Department, August and September looked to be signaling a jobs market that was just about out of gas.

Initial readings from the department’s Bureau of Labor Statistics indicated that August had seen payrolls growth of just 235,000, while September was stuck at 194,000. Both were well below Wall Street expectations at the time.

But what a difference a couple of months can make.

By the time the BLS was finished with its counting, August had come all the way up to 483,000, more than doubling the initial estimate. September, meanwhile, saw its final revision put at 379,000, nearly doubling the first count.

The BLS issues revisions in the subsequent two months after the initial report.

Such wild changes have been commonplace this year. In fact, revisions from the first estimate to the third and final release have added nearly 1 million jobs to the initial releases — 976,000 to be exact, through October. By contrast, 2019 saw revisions for the entire year total just 101,000 and the pandemic-scarred 2020 saw a net loss of 719,000.

The Labor Department did not immediately return a request for comment on the revisions.

Wall Street took a cautious approach in evaluating what looked like a hugely disappointing performance in November as nonfarm payrolls increased 210,000, well below the 573,000 Dow Jones estimate.

“Although the headline November jobs number was disappointing, the overall report was much better,” said Gus Faucher, chief economist at PNC Financial Group. “In recent months the BLS has been consistently revising job growth much higher as more complete employer records become available, and the big jump in November employment in the household survey also indicates that an upward revision is likely.”

Indeed, most other labor market indicators have been strongly positive.

Weekly jobless claims, for instance, posted their lowest total since 1969 two weeks ago, and last week’s 222,000 was still more in keeping with what the jobs market looked like prior to the pandemic rather than the strains associated with the period since March 2020.

If the November count keeps pace with the revisions of 2021, the final report should be around 300,000. That would be well below the 11-month year-to-date average of 555,000. However, the past three months have averaged upward revisions of 193,000, meaning that the most recent totals could move considerably higher.

ShareTweetPin

Related Posts

Sam Altman didn’t take any equity in OpenAI, report says

by
March 24, 2023
0

Sam Altman, president of Y Combinator, pauses during the New Work Summit in Half Moon Bay, California, U.S., on Monday,...

‘It was agony’: Why SVB’s collapse is especially hard as a Black founder, says CEO

by
March 24, 2023
0

Isa Watson, founder of voice-only social messaging app Squad, was on a plane when she got the news: Silicon Valley...

Europe’s leaders battle banking crisis as market rout hangs over Brussels summit

by
March 24, 2023
0

In this article .BBKADBCSG.N-CH Follow your favorite stocksCREATE FREE ACCOUNT Germany's Chancellor Olaf Scholz said Deutsche Bank is profitable after...

BofA’s Hartnett sees commercial real estate as the ‘next shoe to drop’

by
March 24, 2023
0

Commercial real estate could be the next danger spot in the wobbly U.S. financial sector, according to Bank of America....

TikTok wants to distance itself from China — but Beijing is getting involved

by
March 24, 2023
0

China and U.S. flags are seen near a TikTok logo in this illustration picture taken July 16, 2020. Florence Lo...

Next Post

U.S. Covid vaccinations spike as several states confirm omicron cases

Cramer's Investing Club: Consider stocks that return money to shareholders in this volatile market

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net