Although revisions to monthly payroll employment data issued in August were large, they were within the historical range. Evidence continues to suggest that the incoming data are not generally subject to greater fluctuations than in the past, according to updated SF Fed analysis.| Federal Reserve Bank of San Francisco
U.S. household savings rose and fell at unprecedented rates following the onset of the pandemic recession. Updated estimates suggest that these excess savings have been fully spent. However, consumer spending shows no signs of losing steam, raising questions about its future path.| SF Fed