In a shocking turn of events, both the May and April jobs report numbers have been revised lower by a staggering 111,000 jobs. This revision has significant implications for the economy and job market, raising concerns about the state of employment in the country.
The May jobs report, which initially showed a strong figure of 272,000 jobs added, has now been revised down to only 218,000. Similarly, the April jobs report, which originally reported 165,000 new jobs, has been revised down to a mere 108,000. This means that a total of 111,000 jobs that were previously believed to have been created have now been wiped off the record.
This revision is particularly concerning as it marks a trend of downward revisions in job numbers. In fact, out of the last 15 monthly jobs reports, 10 have seen downward revisions. This trend raises questions about the accuracy and reliability of the initial job reports and calls into question the strength of the job market.
The revised numbers paint a less optimistic picture of the job market than previously thought. With fewer jobs being added than originally reported, it suggests that the economy may not be as robust as believed. This could have ripple effects across various sectors, impacting consumer confidence, spending, and overall economic growth.
The downward revisions in job numbers also have implications for policymakers and the Federal Reserve. With a weaker than expected job market, there may be increased pressure to take further action to stimulate economic growth. This could involve additional monetary policy measures or fiscal stimulus to boost job creation and support the economy.
The revised job numbers are likely to be closely watched by economists, analysts, and investors in the coming days. The revisions could impact market sentiment and influence trading decisions as investors react to the new data. It will be important to monitor how the job market responds to these revisions and what actions are taken in response.
In conclusion, the downward revisions in the May and April jobs report numbers are a cause for concern and raise questions about the state of the job market. With 111,000 fewer jobs added than previously reported, it suggests that the economy may be facing challenges that were not initially apparent. These revisions will have implications for policymakers, investors, and the overall economic outlook. It will be important to monitor how the job market evolves in response to these revisions and what steps are taken to address any potential weaknesses.
Overall, the revised job numbers serve as a stark reminder of the volatility and uncertainty in the current economic environment. It underscores the importance of closely monitoring economic data and being prepared to adapt to changing conditions. As the job market continues to evolve, it will be crucial to stay informed and proactive in navigating the challenges ahead..
BREAKING: BOTH May and April jobs report numbers were just revised lower by a combined 111,000 jobs.
The May jobs report was revised from 272,000 to 218,000 while the April jobs report was revised from 165,000 to 108,000.
This means that 10 out of the last 15 monthly jobs… pic.twitter.com/JdrvMolGg3
— The Kobeissi Letter (@KobeissiLetter) July 5, 2024
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KobeissiLetter said BREAKING: BOTH May and April jobs report numbers were just revised lower by a combined 111,000 jobs.
The May jobs report was revised from 272,000 to 218,000 while the April jobs report was revised from 165,000 to 108,000.
This means that 10 out of the last 15 monthly jobs
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