Nearly 90,000 phantom jobs per month go unexplained.
What is happening here?
The BLS just said the number of jobs reported for the 9 months ending December 2024 was likely overstated by ~800,000.
This comes as the Quarterly Census of Employment and Wages (QCEW) data, covering 97% of employers, showed the US added 607,000 jobs… pic.twitter.com/6w7r6WdRdN
— The Kobeissi Letter (@KobeissiLetter) July 20, 2025