Rebel Capitalist News Wow! Did You See The New Jobs REVISIONS?
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Dec 17, 2025 In this discussion, George Gammon dives into the concerning revisions of job data, highlighting a staggering October revision and climbing unemployment rates. He draws parallels between current payroll declines and historical recession signals. Notably, Powell's insights about overstated jobs and the impact of falling oil prices showcase economic fragility. With industries like transportation and hospitality feeling the heat, Gammon questions the narrative of a resilient economy and discusses the significance of upcoming CPI data.
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Jobs Revisions Mask Labor Weakness
- Non-farm payrolls showed multiple recent monthly declines and large downward revisions that change the employment picture significantly.
- George Gammon warns these revisions mean headline jobs prints can overstate labor strength and hide weakening trends.
Rising Unemployment Mirrors Past Recessions
- The unemployment rate rose 0.6 percentage points this year to 4.6%, a historically large move tied to payroll declines.
- Gammon notes historical patterns show such unemployment increases typically coincide with recessions or serious economic contractions.
Fed Sees Payrolls As Overstated
- Jerome Powell previously said payrolls may overstate jobs by about 60,000 per month, implying official numbers are likely too optimistic.
- Gammon suggests the new report probably makes the overstatement even larger than Powell estimated.