{"id":125863,"date":"2025-09-09T19:30:08","date_gmt":"2025-09-09T19:30:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/125863\/"},"modified":"2025-09-09T19:30:08","modified_gmt":"2025-09-09T19:30:08","slug":"us-job-growth-revisions-signal-economic-weakness-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/125863\/","title":{"rendered":"US job growth revisions signal economic weakness"},"content":{"rendered":"

The job growth revisions come at a politically fraught time for the Bureau of Labor Statistics. Just weeks ago, President Trump responded to the signs of a slowdown by firing the head of the agency<\/a>, accusing Erika McEntarfer, without evidence, of rigging the numbers to make him look bad. <\/p>\n

Analysts say the more recent troubles in the job market are partly due to the president’s sweeping changes to tariff and immigration policy, which economists have consistently warned would hurt the economy.<\/p>\n

But the Labor Department revisions, which encompass part of the Biden administration, could serve as a boost for President Trump, who has pushed back against claims that his policies are fuelling weakness in the jobs market.<\/p>\n

“President Trump was right: Biden’s economy was a disaster and the BLS is broken,” White House press secretary Karoline Leavitt said in a statement on Tuesday. <\/p>\n

She reiterated longstanding calls from the Trump administration for Jerome Powell, the chair of the Fed, to “cut the rates now”.<\/p>\n

Wall Street largely looked past the jobs growth revisions, with the S&P 500 index holding steady in early trading on Tuesday. But investors remain on edge. <\/p>\n

Fresh inflation data is set to be released on Thursday. That could bring fears of stagflation – a situation in which economic growth slows while consumer prices rise – to the forefront, said Chris Zaccarelli, chief investment officer at Northlight Asset Management. <\/p>\n

Zaccarelli added that while a deteriorating jobs market “should make it easier for the Fed to cut rates this fall, it could also throw some cold water on the recent rally.”<\/p>\n

The Labor Department’s revisions were broad-based, with particularly large adjustments in services sectors including leisure and hospitality. <\/p>\n

“With services being the last bastion of employment growth, this does not bode well for the overall health of the labour market,” Bradley Saunders, North America economist at Capital Economics, said in a research note.<\/p>\n","protected":false},"excerpt":{"rendered":"The job growth revisions come at a politically fraught time for the Bureau of Labor Statistics. Just weeks…\n","protected":false},"author":2,"featured_media":125864,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-125863","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/125863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=125863"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/125863\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/125864"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=125863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=125863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=125863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}