US employment falls by 818,000 in latest government revision
The Labor Market HAS been cooling for longer than expected
Want to know why the job search seems impossible? Yeah, they OVERESTIMATED jobs by 818,000.
The labor market has been cooling for a HECK of a lot longer. Last time a revision was this bad—2009.
Yeah, remember that year with the housing crisis? I do! It explains fully why 2024 has been a tough ride, and even 2023 because that’s when the sluggish market sta…