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Recent revisions indicate the US economy added 818,000 fewer jobs than previously reported from April 2023 to March 2024. This significant downward adjustment raises concerns about the labor market's strength and may prompt the Federal Reserve to cut interest rates at its upcoming meeting in September.
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The Bureau of Labor Statistics faced criticism after a technical issue allowed select Wall Street firms to access revised job data 20 minutes early. The report revealed a significant downward revision in job growth, raising concerns about data handling and transparency at the agency.
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New projections from the Bureau of Labor Statistics reveal the fastest-growing jobs in the US for the next decade, highlighting wind turbine service technicians, solar photovoltaic installers, and healthcare roles. These trends reflect a shift towards renewable energy and increased demand for healthcare services amid a cooling job market.
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As the 2024 election approaches, Donald Trump has unveiled a series of tax proposals aimed at appealing to working-class voters. These include eliminating taxes on overtime pay and Social Security benefits, while also suggesting a reduction in the corporate tax rate. The implications for the national debt and fiscal policy are significant.