Wall Street Breakfast Jobs see record downward benchmark revision
Sep 9, 2025
Recent data reveals a staggering 911,000 job shortfall from the past year, raising concerns about the economy. The fallout has impacted stock prices for News Corp and Fox following Murdoch's succession news. Meanwhile, Citi issues a warning about a looming memory shortage. Goldman Sachs offers insights into top investment opportunities for the upcoming quarter, highlighting the potential effects of interest rate fluctuations.
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Larger Labor Revision Points To Cooler Market
- The BLS preliminary benchmark revision shows 911,000 fewer jobs created in the 12 months through March 2025, averaging 76,000 fewer jobs per month.
- This larger-than-expected revision suggests a longer cooling in the labor market and may support upcoming Fed rate cuts.
Revisions Vindicate Survey Accuracy Over Time
- The revision strengthens the case that recent labor-market cooling followed an extended period of only moderate job growth.
- Economists say the payroll survey has become more accurate over business cycles despite big recent revisions.
Murdoch Deal Triggers Share Sales
- News Corp. and Fox shares fell after large secondary offerings tied to the Murdoch family succession resolution.
- Lachlan Murdoch retains voting control while siblings received $1.1 billion funded by public share sales.