Home World The U.S. created 911,000 jobs by March 2025, more than the initial...

The U.S. created 911,000 jobs by March 2025, more than the initial report | U.S. unemployment and employment data

3
0

The U.S. Bureau of Labor Statistics (BLS) announced Tuesday that the U.S. job volume is 911,000 less than the initial estimated jobs for the year ended March 2025, highlighting recent concerns about the health of the labor market.

Revisions are 50% higher than last year’s adjustment, at the high end of Wall Street estimate Between 600,000 and 1 million.

Revisions are made after unremarkable August work reportonly 22,000 jobs have been added in the United States. The report also contains revisions and points out that 13,000 jobs in June 2025 are the first negative employment report survey since December 2020. The unemployment rate rose to 4.3%, the highest rate since 2021.

Donald Trump Dismissed Erika Mcentarferthe Labor Statistics Commissioner, after a weak July work report, claimed there was no evidence – “to make Republicans and I look bad, both manipulated.”

However, while these revisions to the working data are large, they are not uncommon. During economic changes, economists have noticed that it often takes longer for companies to respond to BLS’ surveys, leading to their data gaps.

“The annual revisions contain slow administrative (non-survey) data that help keep monthly estimates representing a broad labour market trend,” said Friends of the Bureau of Labor Statistics. FAQs about the Bureau’s work statistics.

The biggest revisions are leisure and hospitality (down 176,000), professional and commercial services (down 158,000) and retail trade (down 126,200). Government work has been adjusted by 31,000 jobs. When BLS releases its final benchmark figures in February 2026, the released figures will face further revisions.

“These figures may have angered President Trump and the White House, who viewed the revised data as political manipulation,” wrote economists Elise Gould and Ben Zipperer at an Economic Policy Institute. postal In the report.

“Trump has slammed the BLS, including Dismiss the agency’s specialist Because the employment report shows that the labor market is weakening rapidly. But these BLS data revisions are not error corrections. Revisions are part of a regular transparent process for updating employment counts with the most comprehensive data. ”

Source link