US jobs data revised lower in 21 of last 30 months by 1.05M total, with June and May combined showing -103K revision—signaling potential economic weakness ahead.
Macro & Markets ·
US employment data has been revised downward in 21 of the past 30 months, totaling 1.05 million jobs removed from previously reported figures. June and May combined saw revisions of 103,000 jobs downward, with June revised to 20,000 and May to 63,000, marking the largest two-month downward revision since July 2025. May's figure was subject to a second downward revision after initially being reported at 172,000 jobs. If revisions continue at the current pace, June could be revised into negative territory, which alongside July's reported loss of 23,000 jobs would represent the first back-to-back monthly job declines since 2020.