U.S. Jobs Data Revisions and Their Potential Impact on the Stock Market
U.S. Jobs Data Revisions: Key Insights
At 10 a.m. Eastern time, the Bureau of Labor Statistics will release its benchmark revisions on U.S. employment data covering April 2023 to March 2024. Wall Street predicts a significant markdown in employment gains during this period, with estimates ranging from a reduction of 600,000 jobs to a record 1 million.
Impact on Investor Sentiment
Analysts caution that the upcoming revisions may attract heightened attention as investors are now extremely focused on labor-market data. This focus was evident in the sharp selloff following the July jobs report on August 2, as well as the rebound that occurred after subsequent weekly jobless claims releases alleviated concerns surrounding the labor market.
Average Job Additions: A Closer Look
- The 12-month average for job additions during the revision period was 241,000.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.