Powell Says U.S. Job Data May Be Overstated by 60K a Month, Hiding Weak Labor Market

Federal Reserve Chair Jerome Powell confirmed Wednesday that Federal Reserve staff believe the U.S. government’s job creation figures may be overstated by as much as 60,000 jobs per month, a gap that could signal a weaker labor market than official data suggest. Powell made the remarks at a press briefing following the Federal Open Market Committee’s D…