Revised Data Show Biden Administration Overstated Employment Growth by 818,000 Jobs in Past Year

Analysts speculate that the cooler-than-expected data may prompt the Federal Reserve to push for a larger interest rate cut at its next meeting in September.

AP/Rich Pedroncelli
Starting wages are advertised on a sign in the window of a Taco Bell at Sacramento, California. AP/Rich Pedroncelli

New estimates suggest that the Department of Labor’s employment report for the year through March overestimated growth by 818,000 jobs — the largest revision since 2009. 

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