New jobs revision report expected to show lower growth

00:00 I

Last year’s revision was that the US labor market had 818,000 less work than previously thought. This was an important event last year. It was in the middle of the presidential elections. And this year’s consensus forecasts are slightly lower, but still high. Consensus estimation is about 700,000, and the labor market is less than we have already thought of.

00:27 I

However, there are some estimates rising up to $ 900,000. And then under the hood here, there are numbers from month to month. All of these are a kind, economists will direct the question of when this summer has started this summer when this workforce market slows down. Essentially, how old was the gear reduction? Was it as early this spring? When we see most of this labor market softening, is it earlier than last year?

01:00 I

This summer is real and evidence. How early it started? And this will create a lot of controversy in both Wall Street and Washington in Washington in Washington.

01:10 Speaker A

I, I, the president can respond to the data and react?

01:19 I

Yes, this is a really interesting aspect, why I’m interested in Washington, because I think it can go in several different directions. As I mentioned, the revision piece has become a key criticism point from Trump and his team. Basically, any revision in job data is a sign that shows that something is wrong, that something is a care. And in recent years, it is true that the revisions have become greater after Covid pandema. So this great revision will have a kind of title number

01:54 I

And this can increase the continuation of government data. Of course, he fired a Trump Bls Commissioner, the future of the data and the place where his successor Um is on the wings. But I think this is another thing that can go in a different direction in the sense that Joe Biden is the last 10 months in the task. So if there is a significant softening there, the argument you can hear from the White House, hey, this slowing down this slowdown

02:29 I

It started before, we inherited weakness, we are just trying to dig ourselves from it. Thus, you may argue that the questionnaire was fake, but that Biden shows that it was Biden’s fault. I wouldn’t pass by a Trump to make a version of both. So when we start digging these numbers, I think it will be a really interesting issue to watch tomorrow.

02:52 Speaker A

I think finally, finally, the political questions, which they play in a wider way, are just circulating the job data we see and receive?

03:13 I

Yes. Yes, it is very rare that we have some kind of political forum for job data, but we will have it in the coming weeks. Trump’s option to manage Ej Antony from the Heritage Foundation, the Bureau of Statistics, is preparing for the Senate Approval hearing. There is no timing, but it is expected in the coming weeks or months. Most of the time, this does not even have some kind of glory and the conditions of a hearing. So we will make a real speech

03:46 I

I hope that this number will be the center. And Tony is a very polarizing figure. There will be a lot of push for the choice, but Trump will also have the general meaning, that is, it does not believe in economic data, and we will not be, and people will believe it. So it will be that it will come at an important moment, but I also think that we will watch what heritage is as soon as possible.

04:14 I

Trump’s Bls Commissioner’s firing movement and belief in forward -looking government data.