this post was submitted on 04 Oct 2024
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Economics

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Employers added 254,000 jobs in September, blowing away forecasts (www.cbsnews.com)
submitted 3 months ago by MicroWave to c/economics
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Employers added 254,000 jobs in September, blowing away forecasts and reversing a slowdown in hiring that had prompted the Federal Reserve to make a jumbo rate cut at its meeting last month. 

Economists had forecast 140,000 new jobs, according to financial data provider FactSet. 

The unemployment rate inched down to 4.1%, versus 4.2% in the prior month.

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[–] [email protected] 3 points 3 months ago (1 children)

The establishment media is destroying itself by breathlessly cheerleading every "beat" that turns out not to be true and not in any way mentioning that the numbers have been revised so heavily all year.

If they're going to mindlessly read press releases, you might as well just read the press releases.

[–] [email protected] 2 points 3 months ago

Exactly. And with how the government turns out to be with information in general, it's a pretty good idea to take anything they say with a massive dose of salt.