· nonfarm payrolls moderated last month, unemployment fell, and annual government revisions now show job gains were softer but still solid in 2024, according to a bureau of labor statistics. · many economists said the increase in the consumer price index, another measure of inflation, was a result of tariffs finally affecting the economy, as the hill reported. Is it signaling recession? · these updates are part of a regular revision the labor department makes at the start of each year to the u. s. · speaking in washington, d. c. , on wednesday, fed chair jerome powell celebrated the steady decline of inflation over recent months and welcomed the robust hiring happening alongside it. · the jobs report was a modest gain of 177k, but it way outpaced estimates, which was enough to juice the stock market, leading to the 9th positive gain in a row for the s&p. Payrolls gains for may and june that prompted president donald trump to fire bureau of labor statistics commissioner. Payrolls — the largest since 2009. The biggest change? · but downward revisions for prior months shocked investors even more, revealing that the labor market came to a near standstill over the spring. Aug 4 (reuters) - the revisions to previous estimates of the size of u. s. · president trump fumed on friday over a weak jobs report and major downward revisions to may and june employment figures that set off alarm bells about the direction of the u. s. · trump has complained about a preliminary annual revision that was issued in august 2024, that showed the us economy had added 818,000 fewer jobs over the past year … · a look at revisions to the bureau of labor statistics’ monthly jobs report data in light of president donald trump’s firing the head of the bureau of labor statistics. · the latest employment report showed the steepest downward revisions to us jobs growth since the pandemic, offering a dramatically different picture of the labor market in … · why it matters: · theres a lot of debate about how much signal to take from the 818,000 downward revisions to u. s. · economists are sounding the alarm on a weakening labor market after julys jobs report revealed sharp downward revisions and softer-than-expected hiring, putting fed rate cuts firmly back on the. Trump accused the bureau of erroneously reporting jobs data after it made a huge downward revision for may and june numbers, which is both normal and expected of the agency. Employment report, based on more accurate information.