Economics Thread

Today's revisions were unusually big. But I think that in itself is a warning sign. It is usually smaller companies that come in with the numbers a month or two late. The BLS models the late responses based on the batch of responses that comes in early. Which means the smaller companies that respond late came in well below what the big companies reported. It sort of intuitively makes sense if tariffs and immigration policy changes are disproportionately affecting hiring at smaller businesses.
 
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