Job growth Temporary uplifting jobs

If only statisticians could revise away all terrible news. When the US non-farm payrolls for August were first reported, they showed a 4,000 fall, the first monthly decline since 2003. That sparked talk of recession and helped provoke a 50 basis point cut in the US overnight interest rate. But thanks to the magic of statistical revisions, that has now been turned into an 89,000 gain. Better still, the job-counters reported a 110,000 gain in September payrolls. The upward revision might put talk...