US Job Growth Slows Down

This is a news story, published by CNN, that relates primarily to The Bureau of Labor Statistics' news.

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US job growth

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job growth

CNN

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New data shows US job growth has been far weaker than initially reported | CNN Business

Summary

Nutrition label

87% Informative

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.

The downward adjustments were limited to the private sector, with nearly half in the professional and business services industry (revised down by 358,000 , or 1.6% ) The revisions will likely put further pressure on the Federal Reserve to loosen its monetary policy.

Every year , the BLS conducts annual benchmark revisions to replace sample-based employment estimates with fuller employment counts.

The data for the first quarter of 2024 was also released Wednesday and showed that in March 2024 , national employment increased to 153.6 million .

The QCEW provides a more comprehensive read on the number of businesses, employees and wages.

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formal

Language

English

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