Massive jobs data revisions are coming:
— The Kobeissi Letter (@KobeissiLetter) August 19, 2025
On September 9th, the BLS will release its preliminary benchmark revision to nonfarm payrolls for April 2024 through March 2025.
Goldman Sachs estimates the revision could cut reported payrolls by 550,000 to 950,000 jobs.
This implies… pic.twitter.com/P2vBU7vg7H
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AI will continue to make itself known on the jobs market and these numbers will continue in the negative column until you go on UBI and CBDC’s. Weinstein’s prediction, AI, check and mate, period.
With apologies to Disraeli and the others to which the original is attributed….”There are three kids of lies: lies, damn lies, and (government) statistics.” – Benjamin Disraeli, Mark Twain, and others.
Why don’t they just report these numbers when they are correct in the first place? I don’t ever recall seeing good numbers on the revision. It’s like that Shrek movie when Pinocchio was screaming he was a real boy only to get zapped back into a puppet again.