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On Wall Street, analysts increasingly don't believe the U.S. government's 'misleading' job numbers

  • Many economists called the June jobs report misleading and expect upward revisions, saying initial BLS estimates often change as more data arrives.
  • The report showed leisure and hospitality losing 61,000 jobs — surprising given the World Cup and Bank of America data showing card spending rising 5.4% (non-local spending up 17.4%).
  • Overall, the U.S. added just 57,000 jobs in June (below expectations), and analysts warn not to overreact to a single, possibly noisy month.
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