US job additions revised down by 911,000 through March, more than expected
Retail trade (minus 126,200), professional and business services (minus 158,000), leisure and hospitality (minus 176,000) had largest downward revisions, report shows
ISTANBUL
The US labor market created far fewer jobs than expected in the year before March 2025, a Labor Department report showed on Tuesday.
According to a preliminary report from the Bureau of Labor Statistics, annual revisions to the non-farm payroll data for the year before March 2025 revealed a decrease of 911,000 from the initial estimates, exceeding market expectations.
The data, derived from the quarterly census and which take into account new figures on company openings and closings, showed a weaker labor market in the world's biggest economy.
Retail trade (minus 126,200), professional and business services (minus 158,000), and leisure and hospitality (minus 176,000) had the largest downward revisions.
The majority of industries had downward adjustments, with the exception of utilities, transportation, and warehousing. Government positions were reduced by 31,000.
Data from recent months has also suggested a lackluster job market. In August, the economy added just 22,000 jobs, well below market expectations.
In June, the figure was also revised downwards by 27,000 to a loss of 13,000, the first loss since December 2020.
The data also created a spat between US President Donald Trump and the bureau.
Trump questioned the accuracy of the federal data last month, calling government economic reports "rigged" as he fired then-Bureau of Labor Statistics Commissioner Erika McEntarfer when data contradicted his narrative.
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