🚨 BLS drops a labor market bombshell 🚨
Annual benchmark revisions slash 911K jobs from April 2024–March 2025, the largest downward adjustment on record.
Avg. job growth cut in half: 147K → 70K/month
Hardest-hit sectors:
• Leisure & Hospitality: –176K
• Business Services: –158K
• Retail: –126K
• Tech/Info: –67K (–2.3%)
Economists say this paints a far weaker market than monthly reports suggested—ratcheting up pressure on the Fed to deliver a September rate cut.
Meanwhile, politics heats up: Trump fired BLS chief Erika McEntarfer, tapped E.J. Antoni as replacement, calling old numbers “rigged.” Experts note revisions are standard, tied to unemployment insurance tax records.
📉 Bottom line: The “strong jobs” story just got a serious reality check.
Source By : x.com/0xcryptosea
