Payroll revisions just took back 60,000 jobs from the past two months.
This is the kind of detail most people miss when the headline number drops. The labor market isn't collapsing, but it's softening in ways that only show up later—in revisions, in hours worked, in the quality of jobs being added.
The story isn't in one month's print. It's in the pattern. And the pattern is cooling.
This is the kind of detail most people miss when the headline number drops. The labor market isn't collapsing, but it's softening in ways that only show up later—in revisions, in hours worked, in the quality of jobs being added.
The story isn't in one month's print. It's in the pattern. And the pattern is cooling.