Downward Revisions

After years of heat, the U.S. labor market turned suddenly chilly and contentious on Friday.

The Bureau of Labor Statistics (BLS) issued its monthly jobs report on Friday, indicating that 73,000 jobs were added in July (under the expected 115,000) and unemployment rose to 4.2%. The less-than-sunny numbers were further rained on by revisions to May and June’s reports:

• June’s job growth was revised from 147,000 to 14,000
• May’s job growth was revised from 125,000 to 19,000

Hours later, President Trump fired BLS Commissioner Erika McEntarfer, whom he called a “Biden political appointee,” saying the particularly large downward revisions were proof she was manipulating the numbers for “political purposes.”

Democrats and some Republicans are criticizing the firing, saying it amounts to “shooting the messenger” and undermines trust. 

Verse to consider when faced with changing reports and an uncertain future… “Jesus Christ is the same yesterday and today and forever.” 
Hebrews 13:8 (CSB) (read full passage)