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US Labor Market Stumbles: July Adds Just 73K Jobs as May-June Reports Get Brutal Downward Revisions
US Labor Market Stumbles: July Adds Just 73K Jobs as May-June Reports Get Brutal Downward Revisions
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Another month, another reality check—the jobs machine isn’t firing on all cylinders.
July’s lukewarm 73K payrolls landed with a thud, but the real kicker? The ‘larger than normal’ downward revisions for May and June. Someone’s erasing their optimistic pencil marks.
Wall Street’s coping mechanism: Blame seasonals, blame algorithms, blame the BLS intern—just don’t blame the Fed for still eyeing rate cuts like a dehydrated trader stares at a Bloomberg terminal.
Funny how ‘transitory’ keeps getting revised… just like those crypto price targets from 2021.
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