Monetary Matters with Jack Farley Why 900,000+ Jobs Just Got Penciled In To Disappear | Anna Wong & Danielle DiMartino Booth on -911k Non-farm Payroll Revision, Unemployment Rate, and Immigration’s Impact on Labor Market
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Sep 12, 2025 
Join Danielle DiMartino Booth, a macroeconomic expert and founder of QI Research, and Anna Wong, Bloomberg's Chief U.S. Economist, as they dissect a shocking revision that adds over 900,000 jobs to the potential unemployment list. They delve into the implications of AI investments and how these influence job stability. The guests also tackle the intersection of immigration policy and labor market dynamics, revealing how inaccuracies in data reshape our understanding of employment trends and inflationary pressures, emphasizing the need for updated economic measures.
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Texas WARN Spike Predicted Claims Rise
- Danielle cites Texas WARN notices and rising initial claims as real, local evidence of looming layoffs.
- She links a 13-month WARN high to upcoming jobless claims increases.
Tricolor Failure Signals Private Credit Stress
- Danielle recounts the Tricolor subprime lender collapse as evidence of private credit stress.
- She links such credit cracks to consumer strain and tighter lending ahead.
Three Labor Measures Are Misaligned
- Anna outlines inconsistencies across unemployment (household), payrolls (establishment) and QCEW census data.
- She shows mismeasured population/immigration distorted unemployment and payroll signals.