What you need to know about the jobs report revisions

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• 00:10

  NPR. This is The Indicator from Planet Money.

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  I'm Darian Woods.

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  And I'm Waylon Wong.

• 00:16

  We are still processing the shockwave of President Trump firing the Commissioner of Labor Statistics,

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  Erica McIntyre, for last week.

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  The jobs report that her agency puts out is packed with some of our favorite indicators.

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  It's the only report we have an air horn for.

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  It's true.

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  And Trump claimed without evidence that downward revisions showing jobs numbers were lower than initially reported means the numbers are rigged.

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  As we showed yesterday, that's not true.

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  There are too many layers of civil servants involved for rigging to take place without that becoming public knowledge.

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  But it is true that the downward revisions were large.

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  So today on the show, how revisions to the jobs numbers happen,

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  what the process is, and what last week's revisions say.

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  about the economy.

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  Here on The Indicator, we have announced the jobs numbers right from the show's beginning.

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  We knew it had to be jobs.

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  Right.

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  Once a month, we put aside the stock market.

• 01:26

  Who cares?

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