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Bureau of Labor Statistics
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- 1US Jobs Data Revised Down 60,000, Weakening Case for Fed Rate Hike●US Jobs Data Revised Down 60,000, Undermining Basis for Fed Rate Hike The Bureau of Labor Statistics slashed July and Au
The Bureau of Labor Statistics has revised down its July and August US job gain estimates by about 60,000, significantly weakening the employment picture the Federal Reserve relied on. Commentators argue the corrected figures undermine the justification for the Fed's September rate hike, fuelling debate over whether policymakers are tightening into an economy that is already slowing more than official data suggested.