US Employment Revised Down 818K, Largest Since 2009

🔹 The US economy created 818,000 fewer jobs than initially reported in the April 2023-March 2024 period, according to the latest revision from the Labor Department. The revision, a -0.5% decline, was the largest since 2009, reducing job growth by nearly 30% from the initial report of 2.9 million jobs.

🔹 Even with the revision, the number of jobs still exceeded 2 million, but the weaker labor market could pressure the Federal Reserve to consider cutting interest rates. The hardest-hit sectors included professional and business services (-358,000), leisure and hospitality (-150,000), and manufacturing (-115,000).

🔗 Source: https://t.me/pinews2024/2026 #USJobs #LaborMarket #FEDPolicy #economy #InterestRates