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The Bureau of Labor Statistics’ annual review of employment data revealed that 818,000 fewer jobs were created than initially reported through March, in the largest downward revision since 2009."The average monthly job gain from April 2023 through March 2024 was 173,500 versus nearly 242,000, an analysis of BLS data shows,". The downward revision is a preliminary finding, and the numbers will not be finalized until February 2025.
US job growth during much of the past year was significantly weaker than initially estimated, according to new data released Wednesday. The Bureau of Labor Statistics’ preliminary annual benchmark review of employment data suggests that there were 818,000 fewer jobs in March of this year than were initially reported.
Every year, the BLS conducts a revision to the data from its monthly survey of businesses’ payrolls, then benchmarks the March employment level to those measured by the Quarterly Census of Employment and Wages program.U.S. job growth during much of the past year was significantly weaker than previously believed, according to new data published Wednesday. The Bureau of Labor Statistics revised down its total created in the year through March by 818,000.
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