White House economic advisor Kevin Hassett called Friday’s new jobs report number “a little bit disappointing,” but added, “I expect it’s going to revise up.”
Hassett’s comments on CNBC’s “Squawk on the Street” came shortly after the Bureau of Labor Statistics reported that nonfarm payrolls rose by only 22,000 in August.
That is less than one-third of the 75,000 new jobs expected by economists who were surveyed by Dow Jones ahead of the report.
Hassett later Friday told Fox News that BLS has been “struggling with bad response rates” to surveys about jobs.
He also pointed to a Goldman Sachs study on Thursday, which he said shows that August seasonal jobs reports for a decade or more have had to be revised upward by 70,000 or so jobs.
