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History of U.S. August job growth revisions could muddy Fed rate hike calculus

From reuters.com

The U.S. government has initially underestimated job growth for almost every August over the last decade, a trend that could make it harder for the Federal Reserve to decide if an upcoming employment report will signal America is ready for a rate hike. The Fed said in July it needs to see "some" further improvement in the labor market before raising rates. The Labor Department's jobs report for August, which will be released on Friday, will be the last monthly employment report before the Fed's Sept. 16-17 policy review. But like many economic indicators, it is subject to revisions as employers turn in ... (full story)

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