US nonfarm payrolls for the year through March are likely to be revised down by 79,000, or 0.1%, according to preliminary benchmark data from the Bureau of Labor Statistics released Friday. The revision means employment growth over the period was softer than initially reported, strengthening signs of a cooling labor market. BlockBeats reports the trend is among the reasons the Federal Reserve decided to cut interest rates in 2025 despite persistent inflation. Final benchmark figures will be released early next year.
The Bureau of Labor Statistics' preliminary benchmark revision, released Friday, points to a 79,000 downward adjustment in US nonfarm payrolls for the year through March — a 0.1% reduction.
Employment growth over that stretch now looks more moderate than previously reported, a further sign of the labor market's softening. According to BlockBeats, that cooling is one reason the Federal Reserve chose to cut rates in 2025 even as inflation persisted.
Final benchmark figures will be released early next year.
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