U.S. Added 818,000 Fewer Jobs Than Reported. Here’s What That Could Mean for the Fed’s Plan to Cut Interest Rates.

The Labor Department reported Wednesday that the U.S. economy produced 818,000 fewer jobs from April 2023 through March 2024 than initial tallies suggested.

The 0.5% total payroll level revision—the most substantial dip since 2009—was nearly 30% less than the initially reported 2.9 million.

The Bureau of Labor Statistics’s revisions came after the agency analyzed data from the Quarterly Census of Employment and Wages, part of an annual process that occasionally reveals departures from monthly updates.

We are aware there was a delay to the CES preliminary benchmark announcement. We are looking into the reason for the delay. We have no additional information to share regarding the delay at this time. https://t.co/nXPlwtZZa7

→ Continue reading at Entrepreneur

More from author

Related posts

Advertisment

Latest posts

Newsmax chief said in 2020 ‘we have no evidence’ election was rigged, but aired those claims anyway, Smartmatic alleges | CNN Business

Wilmington, Delaware CNN  —  Newsmax CEO Chris Ruddy knew the right-wing cable outlet had no evidence to back up its claims...

I Have Helped Founders Raise Millions. Here Are 7 Fundraising Mistakes I See Many Startups Making — And What You Need To Do Instead.

Opinions expressed by Entrepreneur contributors are their own. With U.S. venture capital fundraising at a 6-year low, raising investor capital for your...

New COVID-19 booster shots have been approved. When should you get one?

Meghan Rosen is a staff writer who reports on the life sciences for Science News. She earned a Ph.D. in biochemistry and molecular...