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Labor market revisions hit those watching labor revisions hardest: Morning Brief

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Bureau Of Labor Statistics News

Labor Market,Economic Data Releases

Data from the US government published Wednesday offered new insight into why those in the tech world are so downbeat about the job market right now.

The annual benchmark revisions from the Bureau of Labor Statistics out Wednesday were closely watched by investors, with the reportAs the team at Capital Economics pointed out in response on Wednesday, this implies the average monthly job gains seen from March 2023 through March 2024 were closer to 174,000 rather than the 242,000 initially reported.

And Wednesday's report offered a clue as to why the kind of worker who is paid or has the time to comment on revisions to BLS data might, specifically, believe this to be the case. In total, Wednesday's revisions took 0.5% off the estimated size of the workforce as of March. But for these three industries — business services, information, and financial activities — the drops were 1.6%, 2.3%, and 0.8%, respectively.

US Political Ad Spending Forecast 2024 US Political Ad Spending Forecast 2024 Dublin, Aug. 22, 2024 -- The "US Political Ad Spending Forecast 2024" report has been added to ResearchAndMarkets.com's offering. US political ad spending will vault past $12 billion in 2024 - a new high - to nearly triple the $4.25 billion spent in 2016. As campaigns spend more, they are increasingly investing in digital formats like CTV.

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