Job growth revised down by 911,000 through March, signaling economy on shakier footing than realized [View all]

Source: CNBC

Published Tue, Sep 9 2025 10:00 AM EDT Updated 4 Min Ago


The labor market created far fewer jobs than previously thought, according to a Labor Department report Tuesday that added to concerns both about the health of the economy and the state of data collection.

Annual revisions to nonfarm payrolls data for the year prior to March 2025 showed a drop of 911,000 from the initial estimates, according to a preliminary report from the Bureau of Labor Statistics. The total revision was on the high end of Wall Street expectations, which ranged from a low around 600,000 to as many as a million. The revisions were more than 50% higher than last year’s adjustment.

The numbers, which are adjusted from data in the quarterly census and reflect updated information on business openings and closings, add to evidence that the employment picture in the U.S. is weakening. Most of the time span for the report came before President Donald Trump took office, indicating the jobs picture was deteriorating before he began levying tariffs against U.S. trading partners.

Tuesday’s revisions are not by themselves a reflection of current conditions as they go back as much as a year and a half. However, recent months’ data also has been pointing to a soft labor market. The summer months of June, July and August saw average payroll growth of just 29,000 per month, below the breakeven level for keeping the unemployment rate steady.

Read more: https://www.cnbc.com/2025/09/09/jobs-report-revisions-september-2025-.html

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