Rebel Capitalist News New Jobs Data Reveals A Hidden Secret Everyone Missed
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Jan 9, 2026 The latest U.S. jobs data reveals troubling trends beneath the surface. A headline increase of 50,000 jobs is weak for a large population, as the unemployment rate drops due to declining labor force participation. Long-term unemployment and underemployment are on the rise, raising concerns about demand. Notably, revisions show significantly fewer jobs added in previous months, highlighting hidden weaknesses. Additionally, the disconnect between strong GDP growth and poor job revisions poses questions about the economy's future.
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Underemployment Is Increasing
- Part-time workers for economic reasons are up nearly 1M this year at 5.3M, indicating underemployment is growing.
- These workers prefer full-time jobs but face reduced hours or can't find full-time work.
Labor-Force Exit Hides True Joblessness
- 684,000 more people not in the labor force this year wanted jobs but weren't actively searching, excluding them from unemployment counts.
- Gammon compares this to CPI omissions that reshape metrics to fit narratives.
2025 Job Growth Has Slowed Sharply
- Payroll employment grew only 584,000 so far in 2025 versus ~2M in 2024, marking a sharp slowdown.
- Gammon views this drop as a clear signal the labor market has weakened year-over-year.