“That’s a lower number than was cut in March. It seems to be on the right trend, no?”
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I wouldn’t be so sure about that. It seems to me that the actual # of jobs cut is frequently updated/increased after the original release.
And don’t forget 138,000 legal new workers are still being imported each month.
Still, it seems like a “mustard seed” (a little Larry Kudlow lingo there). Employers are cutting LESS jobs than they have previously.