If I am now a part of blueanonGE, I don't know what blueanonGE means.
Dax, I agree with you on the unsustainability of current federal deficits. When the deficit is brough to a sustainable level, it will slow GDP growth and may cause higher unemployment. The share of federal spending that net interest on the debt is scheduled to be is substantial and will be a drag on growth in the future. I've said as much in this thread.
Also, private job growth is probably slowing. It will still almost assuredly be positive for the year, but that slowing is needed for a normalization of inflation. If unemployment was 6.0% and we were seeing these private job growth numbers, that would be worrisome. With unemployment at 4.1%, not so much.
In terms of revisions, below is a table showing the revisions to the unemployment rate for Jan-Nov of 2024.
Month As First Published As Revised Change
January............. 3.7 3.7 0.0
February............ 3.9 3.9 0.0
March............... 3.8 3.9 0.1
April............... 3.9 3.9 0.0
May................. 4.0 4.0 0.0
June................ 4.1 4.1 0.0
July................ 4.3 4.2 -0.1
August.............. 4.2 4.2 0.0
September........... 4.1 4.1 0.0
October............. 4.1 4.1 0.0
November............ 4.2 4.2 0.0
These unemployment rates are based on the household survey, which tends to be less noisy than the establishment survey. The establishment survey (where job growth numbers come from) has always been subject to more revision.
