"Job Market Surges in 2024 with Over One Million Fictitious Jobs Reported"
TL;DR Summary
The Bureau of Labor Statistics reported that over one million jobs in the U.S. economy in 2023 were overestimated, with monthly revisions averaging 105,000 jobs. The largest downward revisions were in March, January, and April, with the total number of jobs reported each month being 1,255,000 less than previously thought. The revisions are attributed to new seasonal and census data affecting total employment estimates, and the impact of the government-imposed recession in 2020.
Topics:business#bureau-of-labor-statistics#economic-conditions#economics#employment-data#government-positions#job-revisions
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