The US government reduced the estimated number of annual jobs added by 818,000 yesterday. The new figure, still preliminary, suggests 2.1 million jobs were added from April 2023 to March 2024, a 28% revision from the 2.9 million previously reported.
Annual revisions have recently averaged about 173,000 jobs added or subtracted and come as the Bureau of Labor Statistics reconciles preliminary survey data with later-to-come state unemployment records (see 101). This year’s adjustment is by far the largest over the past decade; the next largest was for the year ending in March 2019, with job growth revised down by 489,000. Hospitality, retail, and professional services saw the largest downward revision yesterday, though almost all sectors saw drops.
The new data suggest job growth began to cool earlier than previously believed. They also reinforce expectations the Federal Reserve will lower interest rates next month. Finalized figures are expected in February.
Major Jobs Data Revision added by Staff on
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When will enough people realize that Democrats Lie, Cheat, Steal, and rig even their own Elections. Oh, and for some evil and twisted reason, love to kill innocent babies up to the moment of birth and beyond?
We’ve transitioned from reasonable discussions on pregnancy “prevention” to just pregnancy “termination” as a means of birth control… let that sink in.