⚠️The US labor market headline numbers are useless

The job market is in a way worse shape than the non-farm payrolls readings show

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The Bureau of Labor Statistics (BLS) estimates the US economy created 139,000 jobs in May, according to a report released Friday, June 6. This was above Wall Street’s expectations of 126,000.

The unemployment rate was unchanged at 4.2%, in line with the estimates of 4.2%. However, unrounded the jobless rate has seen a gradual increase: January: 4.011%, February: 4.139%, March: 4.152%, April: 4.187%, May: 4.244%. This is the highest unrounded print since October 2021.

The U-6 rate, which includes those marginally attached to the labor force and part-time workers for economic reasons, held steady at 7.8%.

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These are initial and imprecise estimates and are subject to subsequent revisions.

⚠️US job gains were likely OVERSTATED by ~900,000 in 2024:

Massive job downward revisions will continue in the US

globalmarketsinvestor.beehiiv.com/p/us-job-gains-were-likely-overstated-by-900-000-in-2024

Behind the paywall, you will find out the full analysis of the US labor market, including full-time jobs, labor force data, forward-looking indicators, job openings, and layoffs data.

FREE REPORT EXAMPLE UNDER THE FIRST LINK BELOW

🚨November job market report is worse than many think

Please find the job market breakdown of the world's largest economy

globalmarketsinvestor.beehiiv.com/p/november-job-market-report-is-worse

Subsequent links are from the previous months’ reports.

The US job headline numbers are overstated

The US labor market continues to deteriorate under the surface

globalmarketsinvestor.beehiiv.com/p/the-us-job-headline-numbers-are-overstated

🚨US layoffs surpassed the Great Financial Crisis levels

March job report showed some resilience but other data points to a labor market deterioration

globalmarketsinvestor.beehiiv.com/p/us-layoffs-surpassed-the-great-financial-crisis-levels

!!️The US job report for January was a complete mess

Despite the last two months' positive revisions, the US job market is likely to deteriorate further

globalmarketsinvestor.beehiiv.com/p/the-us-job-report-for-january-was-a-complete-mess

The US economy shrank in Q1 2025, but is this really that bad?

Is the US economy in a recession?

globalmarketsinvestor.beehiiv.com/p/the-us-economy-shrank-in-q1-2025-but-is-this-really-that-bad

🚨Expect more layoffs in the United States

US executives are getting more pessimistic about the outlook of the world's largest economy

globalmarketsinvestor.beehiiv.com/p/expect-more-layoffs-in-the-united-states

⚠️US labor market lost jobs in Q2 2024

2025 revisions will likely show that Q2 2024 job growth was negative

globalmarketsinvestor.beehiiv.com/p/us-labor-market-lost-jobs-in-q2-2024

US job numbers have been revised down by 818,000 for the 12 months through March 2024

Economic data revisions have been much higher than usual over the last 18 months

globalmarketsinvestor.beehiiv.com/p/us-job-numbers-have-been-revised

JOB NUMBERS’ DOWNWARD REVISIONS HAVE BEEN MASSIVE, AMERICANS ARE LOSING JOBS

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