BLS “Torches Its Own Credibility” After Shocking Labor Revision… (Trump, Would Like a Word)

Aaaaand it’s gone… 

If you’re ever feeling down, just remember… you aren’t a bean counter at the BLS. In short, the Bureau of Labor Statistics’ new “benchmark revision,” quietly admitted yesterday that the U.S. economy created way fewer jobs from April 2024 to March 2025 than originally reported. Monthly gains weren’t 147k. They were 71k. Half. Gone. 

(Source: Giphy) 

This is the second time in a row the BLS has successfully torched its own credibility. Last year’s revision? Down 818k. Biggest since 2009. This year… even worse. At this point, the agency is less a data provider and more a fan-fiction writer. 

(Source: Fox Business) 

For more context, the sectors that took the biggest hits are as follows: Trade, transportation, and utilities (-226k), retail (-126k), leisure and hospitality (-176k), and professional services (-158k). Basically, everywhere you’d expect to find real people with real jobs got kneecapped. Which means, cue the politics, baby. Trump already axed the last BLS commissioner after a weak July jobs report, accusing the agency of “rigging” numbers. His press shop wasted zero time after this revision: Biden’s economy was fake, Powell’s excuses are over, time to cut rates. Hard to argue when the scoreboard says nearly a million phantom jobs. 

But, but, but… despite the negative sentiment and the lack of “trust” the BLS continues to serve us on a silver platter, what does that actually mean for investors? Simple: Powell can’t hide anymore. Markets are pricing in a September cut with near certainty, and whispers of 50bps are creeping in. Rate cuts are now a when-not-if story.

(Source: Giphy) 

The bigger picture though, is that the labor market isn’t collapsing, but it isn’t the Goldilocks fantasy we were sold. It’s thinner, shakier, and more dependent on household wealth at the top than monthly headlines suggested. Meaning, while the BLS wanted to give us a clearer picture… they instead reminded everyone that the jobs data is basically improv night, and Powell has to make policy off the script. What a time to be alive I tell ya. 

Of course, now that we are currently experiencing a deep penetration of “bad times = full send”, the markets yeeted north on the news. Translation: The fun coupons are coming… and the money printer is getting dusted off as we speak. Until next time, friends… 

At the time of publishing, Stocks.News does not hold positions in companies mentioned in the article.