US Payroll Revisions Cut 1.05 Million Jobs and Crypto Markets Track Rates
- The Kobeissi Letter says 21 of the past 30 payroll reports received downward revisions.
- May and June payroll estimates lost 103,000 jobs through official revisions.
- Crypto markets track labor data through Fed policy, Treasury yields, and dollar moves.
The Kobeissi Letter reports that US payroll figures received downward revisions in 21 of the past 30 months. Its calculation removes 1.05 million jobs from earlier estimates, averaging 35,067 jobs monthly. The pattern places attention on the reliability and direction of preliminary labor data. The chart covers monthly revisions rather than the separate annual benchmark process. It also records both positive and negative adjustments.
Official figures add context to that pattern. July payrolls fell by 23,000, while May and June lost 103,000 jobs through revisions. Labor data now feeds directly into interest-rate pricingโฆ
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