AXIOS (Courtenay Brown) - The U.S. labor market's quiet upgrade
For the first time in years, data revisions could end up adding jobs to the official U.S. tally rather than erasing them. Why it matters: Early indicators point to a labor market that might be stronger than the monthly employment reports suggest . - Even a mild positive revision would reverse a stretch of after-the-fact updates that showed the labor market was notably weaker than it appeared in real time. - Last year's gloomy update showed that net job creation had all but come to a halt . The intrigue: Some Fed officials have been on the hunt for weak spots. But the labor market in recent months has defied the slowdown narrative. - Payroll growth has surpassed last year's pace. - Unemployment has held steady. - Now, the employment…
