Nick Timiraos: You know that -818K revision to NFP? Goldman says it should’ve been -300K

August 28, 2024
-FCHFX

August 28, 2024 at 03:44AM
Less than a week after the BLS revised the 2023 job gains by -818K, Goldman is now arguing that the number was probably closer to -300K instead.

The reason?

Goldman says businesses avoided reporting unauthorized immigrants to the unemployment insurance system, which pushed and reported employment in last week’s benchmark revisions.

It is all water under the bridge except for the politicians out there who may have a vested interest in the number.

This article was written by Greg Michalowski at www.forexlive.com.

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