The U.S. labor market has experienced unprecedented downward revisions in job growth for May and June 2025, with the Bureau of Labor Statistics (BLS) marking down nonfarm payrolls by nearly 260,000 jobs. May's payroll gains were revised from 144,000 to 19,000, and June's from 147,000 to 14,000, representing the largest downward revisions outside recessionary periods since 1968, according to Goldman Sachs. These revisions contribute to a total downward adjustment of 461,000 jobs for 2025 so far, following a 625,000 downward revision in 2024. The trend of downward revisions has been consistent every month this year, indicating that nonfarm payrolls were likely overstated by approximately 88,888 jobs monthly over the past nine months. Despite these adjustments, the July 2025 jobs report showed an addition of 73,000 jobs, with the unemployment rate steady at 4.2%. However, household survey data indicated a loss of 260,000 jobs in July, bringing the three-month moving average to -287,667, the second-lowest in five years. In Mexico, formal employment saw a notable increase in July 2025, with the Mexican Social Security Institute (IMSS) reporting the creation of over 1.35 million formal jobs in the first seven months of the year, ending a two-month decline. This surge was largely driven by the incorporation of workers from digital platforms, marking the highest monthly increase on record. The informal sector also led job creation through June 2025. These developments reflect contrasting labor market dynamics in the U.S. and Mexico amid ongoing economic adjustments.