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This revision showed much weaker job creation over the past year than initially reported.
Middle and low-wages flattened in the much weaker job market of the 2000s, while the top just kept on ticking.
Similar(56)
Perhaps the biggest fear that most people have when they hear "no growth" is "no jobs", but the evidence for a relationship between economic growth and job creation is much weaker than you would expect and varies remarkably between countries.
This time, though, growth is weaker, job creation is much more modest, and the economy is more prone to self-inflicted wounds from Washington.
Even as the economy was growing surprisingly quickly during the first three months of this year, the job market remained much weaker than economists had initially thought.
To be sure, job security is much weaker than it was at the end of the golden age of postwar prosperity and the pressure on the environment has increased.
The March jobs report came in much weaker than expected, with employers adding just 88,000 workers over the course of the month.
Bond prices shot higher yesterday and interest rates fell after the government reported that job growth in June was much weaker than expected.
The March jobs report had initially been much weaker than economists had expected, following months of solid growth.
Overall, the jobs market is flat, operating at much weaker level of demand than before the recession, and still at risk of a serious relapse.
It concludes, "The empirical relationship between tax cuts for the top 10 percent and job creation is negligible in magnitude, statistically insignificant and much weaker than that of equivalently sized tax cuts for the bottom 90 percent".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com