Goldman Sachs, ADP implied, etc.
Figure 1: Change in implied benchmark revision since Janaury 2025 (bold black), Goldman Sachs 12/12 (pink), JOLTS implied (inverted green triangle), ADP implied (tan), Powell conjecture (light blue), and CPS employment series adjusted to NFP concept, smoothed population controls (red), all in 000’s. Source: BLS via FRED, Goldman Sachs, ADP, author’s calculations.
