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This Trump Achievement Has Economy Experts BAFFLED... | The Mesh Report

This Trump Achievement Has Economy Experts BAFFLED…

the Mesh Report Staff November 1, 2019 Comments Off on This Trump Achievement Has Economy Experts BAFFLED…

The U.S. economy defied expectations by creating 128,000 new jobs in October. Furthermore, official numbers for the prior two months were revised upward by 95,000 jobs. But a tweet from President Donald Trump celebrating 303,000 jobs has economy-watchers confounded.

The better-than-expected jobs report beat forecasts for an 85,000 figure. October’s results were partly impacted by General Motors’ strike that temporarily removed 46,000 workers from the books; the Bureau of Labor Statistics noted that the strike reduced motor vehicle jobs by 42,000.

Under certain scenarios — which include upward several adjustments — it’s possible the jobs data would have topped 200,000, a brisk number considering the slowing economy. Yet shortly after the data’s release, Trump lauded the “blowout” number on Twitter, but suggested the true jobs figure would have been 303,000:

That seemingly arbitrary figure confused many folks including several reporters as well as a former Deputy Secretary of Labor.

Continue Reading at Yahoo Finance



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