Hey, it’s still job growth
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 21 August 2024
⏱️ 27 minutes
🧾️ Download transcript
Summary
The Bureau of Labor Statistics just revised its count of new jobs created between March of last year and March of this year. Although revisions are routine, this was a big one: 818,000 fewer than it initially calculated. In this episode, what the new numbers means for the labor market and the Federal Reserve. Plus, a pig farmer keeps tabs on the presidential race, retailers use “newness” to reel in shoppers, and the U.S. counties with the best and worst employment growth.
Transcript
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| 0:24.8 | That's Dell.com slash deals. |
| 0:29.8 | On the program today, well, data, labor market data, but we'll keep it interesting. |
| 0:39.0 | From American public media, this is marketplace. |
| 0:43.0 | In Los Angeles on Kah Rizdahl, it is Wednesday today, the 21st of August. |
| 0:57.0 | Good as always, to have you along everybody. |
| 0:59.0 | There are give or take 168,429,000 people in the American labor force. |
| 1:06.9 | That's people 16 and over, according to the Bureau of Labor Statistics, |
| 1:10.8 | which, as you know, measures |
| 1:12.9 | dobleness and employment in this economy every single month |
| 1:16.9 | to as great a degree of accuracy as it can. |
| 1:21.1 | The BLS said this morning that as part of its regular and this is important |
| 1:24.8 | regular annual revision to its monthly unemployment reports the economy |
| 1:29.7 | that it had been telling us had been adding jobs at a remarkable clip between March of last year and |
| 1:35.2 | March of this. The BLS said today maybe not quite as many. In fact 818,000 not as many as we had thought. |
| 1:45.0 | Again, this revision is a normal part of the BLS process. |
| 1:50.0 | The revision is just not normally so big. |
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