Huge job revisions erase 258,000 jobs and September rate cut is on the table.
May’s jobs gain was revised down by 125,000, from 144,000 to 19,000. June’s jobs gain was revised down by 133,000, from 147,000 to 14,000. Together, that cuts 258,000 jobs from official data in two months. https://www.bls.gov/news.release/empsit.nr0.htm July added 73,000 jobs, below expectations. The unemployment rate rose to 4.2% from 4.1%. Markets now see a 95% …