Huge Downward US Jobs Revision

Bureau of Labor Statistics just revised job creation for April 2023 to March 2024 down by 818K positions. In short, the 220K or so jobs created per month that the Biden administration has ben bragging about was really more like a below average 150K. This should lead to a broad reassessment of credit risk as Wall Street comes to realize that Main Street wasn't just whining ....but was really spent up and lent up and stretched to the seams.

BLS Jobs Report: Payroll Gains Were Revised Down by 818,000, Data Show - Barron's (barrons.com)