re: AI is taking all our jobs!!! Oh wait...payroll beats estimates at 303K

quote:

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Or is it another LIE again and the job numbers will be adjusted down another 100K in a month?

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I think we know that answer. They have done this pretty consistently because they know the media will shout the original numbers from the rooftops and then quietly mumble the revisions.

quote:

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Labor Department Cuts 167,000 Jobs From December and January Payrolls

Last Updated:

March 8, 2024 at 8:30 PM EST

By Megan Leonhardt

The Labor Department made significant reductions to the previously reported outsize payroll gains in December and January.

The department cut 124,000 payroll gains from the 353,000 jobs initially reported for January. The revised total was just 229,000 .

It also cut 43,000 from total nonfarm payroll employment for December, revising down the total gain to 290,000, from 333,000

With the revisions, the combined gain in nonfarm employment for December and January is 167,000 lower than previously reported.

The revisions shift the overall picture on labor trends, making December and January fall more in line with the recent trends of a solid, but normalizing employment situation.

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I think the question is, will the market stop reacting to these reports knowing they're Kim Jong Un level bullshite?