Today's downward revision of employment data has led to a big dump in the US stock market, exposing a certain degree of fragility in economic data: the previous employment figures may have masked a reality gap in market expectations, and the market's big dump is not a reaction to a single data point, but a panic response to a larger reality gap.



The market turmoil triggered by the downward revision of employment may just be a prelude to the unemployment storm brought about by AI in the long run: the earnings of listed companies continue to grow, while employment continues to fall.
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