It's extremely absurd, in the latest employment data released by the US, the May employment data was revised from +144,000 to +19,000, a reduction of 87%; June's data was revised from +147,000 to +14,000, a reduction of 91%. A total of 258,000 jobs "disappeared" over two months.
The US Bureau of Labor Statistics gave the reason for the revision: the response rate of the institutional survey in June was 59.5%, which is within the normal range. However, the proportion of government agencies and large employers was too high. The revisions in the number of employed people in May and June were largely due to public schools, which had 109,100 fewer employees in June than the Bureau of Labor Statistics had estimated at the time. However, late responses in other industries also tended to be negative. "Usually, the monthly revisions will offset each other within the industry, with one industry being increased and another decreased. But in June, most of the revisions were negative."
The Federal Reserve's reason for not cutting interest rates is: stable employment, a strong economy, and inflation expectations. If the employment data is problematic, and inflation expectations cannot be dispelled, market uncertainty will return again.
Currently, the employment data is not ideal, and Trump is furious, saying he will fire the head of the statistical bureau.
Original article: https://www.toutiao.com/article/1839294345717770/
Statement: This article represents the views of the author himself.