US Labor Market Summarized:

1. 10 out of the last 11 jobs reports revised lower

2. ~25% of jobs gains in 2023 ultimately revised away

3. Government jobs accounted for 25% of December jobs gains

4. Part time jobs UP 762,000, full time jobs DOWN 1.5 million in December

5.…

— The Kobeissi Letter (@KobeissiLetter) January 5, 2024