Why we should be cautious in drawing political trends from jobs data — particularly now

“[S]ome large revisions to seasonally adjusted data occurred with the updated models; however, these monthly changes mostly offset each other,” the BLS reported. “For example, the over-the-month employment change for November and December 2021 combined is 709,000 higher than previously reported, while the over-the-month employment change for June and July 2021 combined is 807,000 lower. Overall, the 2021 over-the-year change is 217,000 higher than previously reported.”