Jobs Spin? You Decide,

from The Distilled Perspective of
Patrick T Bulger, Capital Management & Analytics

One of my shortest posts ever:
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1. Please Note the Negative Revisions in Today’s Jobs Report:

Source: U.S. Bureau of Labor Statistics, 02/11/2026
Employment Situation Summary
Revisions to Establishment Survey Data:

“The seasonally adjusted total nonfarm employment level for March 2025 was revised downward by
898,000.”
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2. Like our many mentions of the potential and past downward revisions to GDP,
this is not considered to be high quality data.

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PTB



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