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Instant Reaction: US Payrolls Marked Down a Record 911,000 in Preliminary Estimate

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Manage episode 505346633 series 2997040
Content provided by Bloomberg. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Bloomberg or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

US job growth was far less robust in the year through March than previously reported, adding to mounting pressure on the Federal Reserve to lower interest rates.
The number of workers on payrolls will likely be revised down by a record 911,000, or 0.6%, according to the government’s preliminary benchmark revision out Tuesday. The final figures are due early next year.
Before the report, the government’s payrolls data indicated employers added nearly 1.8 million total jobs in the year through March on a non-seasonally adjusted basis, or an average of 149,000 per month. The revision showed average monthly job growth was roughly half that.

For instant reaction and analysis, Bloomberg's Tom Keene and Scarlet Fu spoke with:

  • Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist
  • Michael McKee, Bloomberg International Economics and Policy Correspondent
  • Stephanie Roth, Wolfe Research chief Economist

See omnystudio.com/listener for privacy information.

  continue reading

4013 episodes

Artwork
iconShare
 
Manage episode 505346633 series 2997040
Content provided by Bloomberg. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Bloomberg or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

US job growth was far less robust in the year through March than previously reported, adding to mounting pressure on the Federal Reserve to lower interest rates.
The number of workers on payrolls will likely be revised down by a record 911,000, or 0.6%, according to the government’s preliminary benchmark revision out Tuesday. The final figures are due early next year.
Before the report, the government’s payrolls data indicated employers added nearly 1.8 million total jobs in the year through March on a non-seasonally adjusted basis, or an average of 149,000 per month. The revision showed average monthly job growth was roughly half that.

For instant reaction and analysis, Bloomberg's Tom Keene and Scarlet Fu spoke with:

  • Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist
  • Michael McKee, Bloomberg International Economics and Policy Correspondent
  • Stephanie Roth, Wolfe Research chief Economist

See omnystudio.com/listener for privacy information.

  continue reading

4013 episodes

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