Economy

Nearly 1 million more jobs were created this year than the government first estimated

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A construction worker passes a job site at Metropolitan Park, the first phase of new construction of Amazon’s HQ2 development Arlington, Virginia October 13, 2021.

Kevin Lamarque | Reuters

If you would have believed the Labor Department, August and September looked to be signaling a jobs market that was just about out of gas.

Initial readings from the department’s Bureau of Labor Statistics indicated that August had seen payrolls growth of just 235,000, while September was stuck at 194,000. Both were well below Wall Street expectations at the time.

But what a difference a couple of months can make.

By the time the BLS was finished with its counting, August had come all the way up to 483,000,…



Source cnbc.com

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