Bob McTeer, Former Dallas Fed President and Contributor
October 3, 2015 – 10:37 AM
[Opinions expressed by Forbes Contributors are their own.]
Probably. It wasn’t just the weaker-than-expected gain of 142,000 payroll jobs in September that disappointed, but also the downward revisions for August from 173,000 to 136,000 and for July from 245,000 to 223,000. These revisions dropped the average payroll gains for the 3 months of the third quarter to 167,000, which is lower than the earlier months of 2015 and much lower than the 2014 average of 260,000. The employment data seem to confirm expectations of a weak third quarter GDP growth following a pretty decent rebound in the second quarter.
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