US job numbers have been revised down by 778,000 since February 2022, according to BlackRock.
In just this year alone, non-farm payrolls were revised down by 279,000 between January and June.
Moreover, the US economy LOST 192,000 jobs in Q3 2023 but gained 344,000 in Q4 2023, according to the BED survey from the BLS.
However, the nonfarm payrolls data paints a different picture, showing the US labor market added 663,000 jobs in Q3 and 577,000 in Q4 2023.
This is a staggering difference of 1,088,000 jobs between the two sets of numbers in just two quarters.
The labor market isn’t as strong as the headlines suggest.
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