Major jobs revision Tuesday could show the labor market is weaker than previously thought [View all]

Source: CBSNews

MONEYWATCH
Major jobs revision Tuesday could show the labor market is weaker than previously thought

By Aimee Picchi
Edited By Anne Marie D. Lee
Updated on: September 8, 2025 / 4:38 PM EDT / CBS News

The latest jobs report points to a labor market that's faltering, but the slowdown may have begun much earlier. Economists expect the Bureau of Labor Statistics tomorrow to issue a major downward revision, showing the nation added hundreds of thousands fewer jobs than first reported.

On Sept. 9, the BLS will release its preliminary benchmark revision to labor market data, which aims to better account for businesses that have opened or closed. Economists say the revision, covering the 12-month period through March 2025, could show that hiring during that time was about 800,000 jobs lower than previously reported.

The report could draw attention from the Trump administration, as the president last month questioned the validity of the monthly jobs report — and fired the commissioner of the BLS — after the data included a significant downward revision. Hiring experts and economists point to a job market that's stalling out as some businesses are bearing increased tariff costs while others are tapping artificial intelligence as a way to lower labor costs and replace workers.

"The labor market will likely look even worse after the release of the preliminary benchmark revision to payrolls on Sept. 9," Bill Adams, chief economist for Comerica Bank, noted in an email. … The revision could show that employment was reduced by about 775,000 for the 12 months through March, Adams estimated. That would indicate that the average monthly job growth in 2024 actually stood at 100,000 per month, down from the 165,000 previously reported, he added.

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Read more: https://www.cbsnews.com/news/jobs-report-revision-september-9-bls-economy-trump/