Really, we just need to alert readers to this “development” (not really) yesterday and overnight, from Bloomberg:

Fed Confronts Up to a Million US Jobs Vanishing in Revision

US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates. 

Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government’s preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month.

So that’s Bloomberg this morning. We’d like to know which “economists” are downplaying the Biden-Harris feints from labor on what our jobs are doing, and where they are going.

We already know that any “gains” in jobs, for years now, has been because of part-time hires, federal hires, and illegal migrant hires. The Labor Department is not forthcoming on these realities, either.

The Business Times offers this analysis vis-à-vis implications for any change in interest rates precipitated by a more honest picture:

US JOB growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.

Goldman Sachs Group and Wells Fargo economists expect the government’s preliminary benchmark revisions on Wednesday (Aug 21) to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated – about 50,000 a month.

While JPMorgan Chase forecasters see a decline of about 360,000, Goldman Sachs indicates it could be as large as a million.

Have our federal information minders dropped the ball, or has Kamala forgotten to take care of her fraudulent economic/finance picture? Here’s more:

‘A large negative revision would indicate that the strength of hiring was already fading before this past April,’ Wells Fargo economists Sarah House and Aubrey Woessner said in a note last week. That would make ‘risks to the full employment side of the Fed’s dual mandate more salient amid widespread softening in other labor market data.’

However, Kamala may not need to overly worry, as we won’t have anything close to the truth until after the election:

The government’s preliminary benchmark projection will be followed by final revisions that are incorporated into the January employment report to be released in February.

That’s February 2025, folks. If Trump is in by then, he’ll be fixing it. If Kamala’s the man, she won’t notice it anyway.

And the stock market is acting like a guy with a sick stomach—up any Tuesday, down the next day, etc. Those monied folks are way nervous and sending off upsey-downsey red alert signals to us lesser mortals.

For Kamala devotees, if any read this: caveat emptor.

Image: YouTube video screen grab, edited.