BLS Revises US Job Growth Down by 818,000
BLS Revises US Job Growth Down by 818,000
BLS Revises US Job Growth Down by 818,000
News summary

The Bureau of Labor Statistics announced a significant revision, revealing that the U.S. added 818,000 fewer jobs from April 2023 through March 2024 than initially reported, marking the largest downward adjustment in 15 years. This revision has sparked controversy, with former President Donald Trump accusing the Biden administration of fabricating job numbers to deceive the public. Economists suggest the revision indicates a slowing job market, reinforcing expectations that the Federal Reserve will begin cutting interest rates soon. Colorado experienced the largest state-specific downward adjustment, while sectors like professional and business services saw the most significant job losses. Despite the adjustment, experts emphasize that such revisions are routine and aim to provide a more accurate labor market picture. The final job figures will be released in February 2025.

Story Coverage
Expect more economic pain to come, warns senior UK cabinet minister
A famed economist who called the 2008 recession warns the Fed is behind on rate cuts — and that a downturn is coming despite 'off the charts' investor sentiment
How Wonky US Payroll Revisions Became Controversial
Government: US economy added 818,000 fewer jobs than first reported in year that ended in March
Bias Distribution
33% Left
Information Sources
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+16
Left 33%
C
Right 33%
Coverage Details
Total News Sources
24
Left
8
Center
4
Right
8
Unrated
4
Last Updated
25 days ago
Bias Distribution
33% Left

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Story Coverage
Expect more economic pain to come, warns senior UK cabinet minister
A famed economist who called the 2008 recession warns the Fed is behind on rate cuts — and that a downturn is coming despite 'off the charts' investor sentiment
How Wonky US Payroll Revisions Became Controversial
Government: US economy added 818,000 fewer jobs than first reported in year that ended in March
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