Re: US Jobs Report - revised down 818,000 - US Policy board

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These revisions are an annual practice by the BLS, although I don’t recall one this large (not that I follow annual revisions).

Some select paragraphs from the link:

The report moves down the monthly job additions seen in the US economy over the time period to 174,000 from 242,000.

"Despite this big downward revision, that's still a very healthy growth rate in terms of the monthly jobs added to the economy," Omair Sharif, Inflation Insights president, told Yahoo Finance.

Furthermore, economists cautioned ahead of the release about how much investors should read into the print given its backward-looking nature.

"The realization that the economy created fewer jobs than initially estimated [does not] change the broader trends in GDP growth, stock market and wealth gains, and consumption," RBC Capital Markets US economist Michael Reid wrote in a note to clients on Aug. 16.

"It's important to zoom out a little bit in this kind of situation," Evercore ISI senior economist Marco Casiraghi told Yahoo Finance. "And I think this is also what the Fed will do. And if you zoom out, you see that the economy is slowing down, but still growing. The labor market is softening, but it's not rapidly deteriorating."

finance.yahoo.com - US employment falls by in latest government revision

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