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US Economy Added 911,000 Fewer Jobs Than Initially Reported

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6 hrs ago

Above: A TJ Maxx HomeGoods discount department store hiring sign. Image copyright: Jeffrey Greenberg/Universal Images Group/Getty Images

story last updated 6 hrs ago

The Spin

Republican narrative

These massive revisions prove the economy was far weaker during the Biden administration than anyone realized, justifying Trump's decision to fire the BLS commissioner for producing unreliable data. The agency's outdated methods and consistent overcounting show a broken system that misled markets and policymakers for months. New leadership is essential to restore credibility to economic statistics.

Daily Wire Breitbart

Democratic narrative

The annual revision process is a routine statistical procedure that occurs every year, not evidence of political manipulation or agency failure. Budget cuts have hampered the BLS' ability to modernize data collection methods, while declining survey response rates make initial estimates more challenging. Attacking career statisticians undermines the independence of economic data.

MSNBC Daily Kos