Four days before Election Day, the government will issue its final snapshot of hiring and unemployment in the United States after a presidential race in which voter perceptions of the economy have played a central role.
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Once the impact of the hurricanes and strikes are considered, those figures would still point to a solid job market, one that has shown surprising durability, buoyed by healthy consumer spending, in the face of the Fed's high interest rates. Friday's jobs report will be the last major snapshot of the economy before the Fed's next meeting Nov. 7, two days after the election. Most economists expect the Fed to reduce its benchmark rate by a quarter-point, after an outsize
Trump and other critics have seized on the revisions that are often made to the government's initial estimates as evidence for their false claim that the Biden-Harris administration has manipulated the data. In August, the BLS said it expected to downgrade its estimate of total jobs in the United States as of last March by 818,000, or about 0.5% of the total. During the presidential debate in September, Trump asserted that the revision reflected “fraud” in the employment data.
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