re: Morning Melt jobs numbers report "this is an 11 year extension to Obama economy"

quote:

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when the next recession hits, which is inevitable, will that be Obama's to claim as well

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yes, it's all very confusing about which person is individually responsible for which thing.

i don't really wish to add to the confusion, but in the threads about this so far, literally no one has mentioned something in this very same report that's pretty fricking massive.

i refer to the revision of the 2018-2019 numbers, which at the endpoint of the rebenchmarking were revised down from 2.5 million for that year to 2.0 million. that's a downward revision of twenty fricking percent to the numbers ending in q1 2019.

to reiterate, job growth in the first 3-4 quarters following the tax cut & trade war just got revised down by half a million.

not sure who to blame this on though.



eta: here's the split between y/y payrolls growth from last month's pre-revision numbers (green), and this month's post-revision (red)