---
title: The US Labor Department revises 12-month job growth down by a massive 818,000 jobs
description: "In other words, the US economy actually created 818,000 LESS jobs than initially reported.\n\nFurthermore, the US economy LOST 192,000 jobs in Q3 2023 and added 344,000 jobs in Q4 2023, according to the BED survey released by BLS.\nOn the other hand, nonfarm payrolls data showed that the US labor market added 663,000 and 577,000 new jobs in Q3 and Q4 2023.\nThis is a jaw dropping 1,088,000 difference in job count over just two quarters.\n\nThis is the BIGGEST negative revision to payrolls since the global financial crisis. Crucially, it took place in an election year and was meant to pad the numbers, making the economy appear much stronger than it was.\n\nSource: The Kobeissi Letter"
---

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# [The US Labor Department revises 12-month job growth down by a massive 818,000 jobs](https://blog.syzgroup.com/syz-the-moment/do-you-remember-hashtagmoderna-mrna-0-0-0-0-0-1-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-1723-3aa6a16c)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Aug 26, 2024, 12:03:24 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/do-you-remember-hashtagmoderna-mrna-0-0-0-0-0-1-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-1723-3aa6a16c)

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