No. of Recommendations: 4
A few snippets from our overseas news sources:
The revised numbers from the Bureau of Labor Statistics (BLS) show that what was thought to be a 144,000 job gain in May was actually only a 19,000 gain.
There was also a big revision for June's data, which dropped from a 147,000 gain to just a 14,000 gain.
Month-out revisions are a regular practice to account for late respondents. Experts say these numbers are typically adjusted down because failing businesses tend to report late.
These subtractions for May and June were considerable - beyond the average revision numbers.
Firing the head of the Bureau of Labor Statistics is a major step by the president, and one that markets are likely to take very badly.
Investors and analysts were already growing worried that the data being collected by the government about inflation and jobs growth was starting to suffer, due to cutbacks in government spending.
Just Great:-(
