Part 9/11:
The labor market's foundational strength is evident, but signs of slowdown – such as manufacturing job losses over four consecutive months – keep policymakers cautious. The impact of tariffs, global supply chain disruptions, and inflation pressures, although somewhat contained, remain potential risks.
Crucially, the employment data's revisions anticipate a significant downtick, possibly stripping nearly 900,000 jobs from previous estimates, which would dramatically alter the employment landscape's perception. Such adjustments underscore the importance of scrutinizing statistical revisions and the narratives fed to the public.