That's what is remarkable about the May report--we have some decidedly ATYPICAL revisions which ratcheted job growth up by 93,000 jobs. YTD revisions are +66,000.
For the month of March both the first and second revisions were positive. We haven't seen that in over a year, since December of 2024.
In 2025, total monthly revisions were negative for each and every month. We've already shattered that pattern for 2026.
Will the June jobs report revise everything down again? It could happen, and we should not be completely surprised if it does happen. However, if it does happen it will be a major departure from the revisions we've already seen over the past two months.
The skeptic in me is hesitant to say we're in a jobs recovery, but the data points which say we are have been accumulating, and the upward revisions are some of the more notable of those data points.
We can count on you, Peter, to give us a factual, level-headed picture of where things stand - and that’s priceless! Thank you.
With the midterm election season ramping up, Trump has some good figures to spin into votes. If his administration is on the ball, they will find ways to tease apart the data and show that economically, Democrat-controlled cities such as LA and Portland are faring worse compared to Republican locales. If he can combine that data with proof that cities such as LA have rigged previous elections, Republicans could get a sweet response!
Be curious to see if it sustains into the next month, or if we get the typical revisions.
That's what is remarkable about the May report--we have some decidedly ATYPICAL revisions which ratcheted job growth up by 93,000 jobs. YTD revisions are +66,000.
For the month of March both the first and second revisions were positive. We haven't seen that in over a year, since December of 2024.
In 2025, total monthly revisions were negative for each and every month. We've already shattered that pattern for 2026.
Will the June jobs report revise everything down again? It could happen, and we should not be completely surprised if it does happen. However, if it does happen it will be a major departure from the revisions we've already seen over the past two months.
The skeptic in me is hesitant to say we're in a jobs recovery, but the data points which say we are have been accumulating, and the upward revisions are some of the more notable of those data points.
We can count on you, Peter, to give us a factual, level-headed picture of where things stand - and that’s priceless! Thank you.
With the midterm election season ramping up, Trump has some good figures to spin into votes. If his administration is on the ball, they will find ways to tease apart the data and show that economically, Democrat-controlled cities such as LA and Portland are faring worse compared to Republican locales. If he can combine that data with proof that cities such as LA have rigged previous elections, Republicans could get a sweet response!