EconomyBlackRock’s Rosenberg Says Jobs Revisions Signal Labor Weakness

Jeffrey Rosenberg of BlackRock’s Systematic Multi-Strategy Fund says investors should be hesitant to dismiss the July US jobs report. Payrolls fell by 23,000, while the unemployment rate declined to 4.1%. Rosenberg describes the headline figures as somewhat confusing. He says revisions to the employment data are pointing toward weakness in the labor market.