JANUARY JOBS

January employment growth was recently reported as 130,000. It’ll be revised, down. Last year, every initial monthly net job growth number was revised down. For example, 1/25 was initially reported at 143,000, the final number was -48,000. In CY25, the average initial monthly employment estimate was 101,000, the average final number was 15,000; the average revision was -86,000. Take the initial monthly job estimates with a grain of salt.