Quelle Surprise !!: June employment figures revised downward....by about 100,000 !!!

[marmar]

:think:



....snip....

June Revisions

Total employment fell a revised 221,000 in June, today’s figures showed. Payroll estimates in the Bloomberg survey of 84 economists ranged from a decline of 160,000 to a gain of 10,000 after a previously reported loss of 125,000 jobs in June that was led by census dismissals.

Private employment in July was led by gains in manufacturing and education and health services. Estimates in the Bloomberg survey ranged from increases of 20,000 to 150,000.

“The labor market is holding on and continues to be the foundation for a weak but measurable recovery,” said Ellen Zentner, a senior U.S. macroeconomist at Bank of Tokyo- Mitsubishi UFJ Ltd. in New York, which had forecast 53,000 private payrolls. “The creation in manufacturing jobs was phenomenal and shows that manufacturing continues to be a strong driver of the economy.” .......(more)

The complete piece is at: http://noir.bloomberg.com/apps/news?pid=20601087&sid=a3o7UnSKeYog

[leveymg]

1. Add that to the 131,000 lost in July, and you get no recovery.

I don't know why people are even using that term outside of Wall Street and the banking sector.

[uponit7771]

2. Those numbers stank...