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progree

(12,050 posts)
32. 'The Golden Age is here': US Labor Secy. reacts to April jobs data, 5/2/25
Sat May 3, 2025, 05:47 AM
May 3
The US Bureau of Labor Statistics (BLS) published Friday morning that the labor market saw an addition of 177,000 jobs in the month of April, well above original forecasts for 138,000 in non-farm payroll growth. The April jobs report was an example of resiliency for the US economy following President Trump's "Liberation Day" reciprocal tariffs enacted on April 2.

The United States Secretary of Labor Lori Chavez-DeRemer sits down with Yahoo Finance senior Washington correspondent Jennifer Schonberger to talk more about the job growth seen so far under the Trump administration and what other Cabinet officials are projecting for labor momentum amid reshoring plans and trade negotiations.

. . .

Lori Chavez-DeRemer: "Well, we blew it out of the water last month. So this, this has not surprised me. This is exactly what I knew the president was going to do, but 40,000 more jobs, again, exceeded expectations. So, uh, this is not a wait and see anymore. The golden age is here. This is what we're experiencing. This is what the president wanted when he put this team together. "

More: https://finance.yahoo.com/video/golden-age-us-labor-secy-141224447.html


Oh FFS. First, they beat some LOW expectations. I so hate the financial media and pundits making everything about what was expected (especially when not mentioning that the expectations were low), as opposed to what actually was.

Second of all, with the downward revision of the prior 2 months -- 58,000 jobs combined -- the actual gain in jobs compared to the previous jobs report -- the April 4 jobs report for March -- was 119k jobs, below the expectation of a gain of 138k jobs. Post #10 spells that out. The short form is:

177k increase from March to April minus 58k downward revision of February and March combined = 119k

Short form #2:

The April 4 report's total nonfarm payroll employment: 159,398k
This (May 2 report's) total nonfarm payroll employment: 159,517k
159,517k - 159,398k = 119k, matches the above.
Links are in Post #10

Simply stated, both the expected and actual job growth were feeble.

The rest of the transcript continues with more nauseum.

Recommendations

1 members have recommended this reply (displayed in chronological order):

Will this make it less likely the Fed lowers interest? OrlandoDem2 May 2 #1
We won't really see that much of an effect economically BumRushDaShow May 2 #4
Yes, the expected # of rate cuts this year has declined mathematic May 2 #20
Anyone but me question the validity of any numbers coming out of the ShitStains administration? NoMoreRepugs May 2 #2
I was going to ask the same question gab13by13 May 2 #3
I posted this in another thread but it's relevant here too. yardwork May 2 #6
I'd say they are real,temps warming up seasonal hiring is going again. Bengus81 May 2 #18
The reported numbers (177,000 payroll jobs, 4.2% unemployment rate) are seasonally adjusted progree May 2 #21
That was my immediate thought. yardwork May 2 #5
Why not? Republicans always said Biden manipulated the data. Self Esteem May 2 #7
Yes there is dirtrust in govt. accounting now more than ever which is part of the repuke plan BUT Cheezoholic May 2 #12
Distrust in this government is warranted and necessary. gab13by13 May 2 #16
I think that's what I said, giving reasons why. Sorry if i wasn't clear ;) n/t Cheezoholic May 2 #17
BLS is still independent Johnny2X2X May 2 #11
Correct. Having worked on the Current Employment Statistics program for close to 35 years, Wiz Imp May 2 #14
Trump willblame them on Biden when they turn bad Johnny2X2X May 2 #15
Many federal workers no longer reporting to work are on mahatmakanejeeves May 2 #25
There are several problems with that. First, staff on admin leave still get paid so they haven't actually been fired. Wiz Imp May 2 #29
Fork in the Road, Part 2 mahatmakanejeeves May 2 #30
In my Rebl2 May 2 #19
first thing that popped into my head rurallib May 2 #28
i dont trust any data coming from this admin Fullduplexxx May 2 #31
Sincerely angrychair May 2 #8
See post #7 MichMan May 2 #9
LINKS to some BLS Data Series Numbers and Graphs. Also, downward revisions of prior 2 months make it a gain of 119k progree May 2 #10
Those are good numbers considering FredGarvin May 2 #13
The Headline Number Is Better Than Expected, However DallasNE May 2 #22
Thanks. I'll have to add that to the calendar. NT mahatmakanejeeves May 2 #26
Wouldn't that be the BIDEN payroll growth? Grins May 2 #23
Enjoy it while you can. louis-t May 2 #24
Long-term unemployed 27 weeks or longer as a percent of total unemployed progree May 2 #27
'The Golden Age is here': US Labor Secy. reacts to April jobs data, 5/2/25 progree May 3 #32
That would have been a "disastrous" number during the Biden administration Orrex May 3 #33
Latest Discussions»Latest Breaking News»U.S. payroll growth total...»Reply #32