A famed economist who called the 2008 recession warns jobs data will shockingly turn sour in the next 6 months — and says a stock-market AI bubble is starting to unravel

• April’s jobs report missed expectations, with the US economy adding 175,000 jobs.
• David Rosenberg believes the non-farm payroll data is overstated due to flawed BLS methods.
• Rosenberg warns of substantial downward revisions ahead for non-farm payroll data.

April’s jobs report fell short of expectations: The Bureau of Labor Statistics said on Friday that the US economy added 175,000 jobs last month, shy of economists’ forecasts for 238,000 and well below the 274,000 average jobs added per month from December to March.