Payrolls Revised Down 911,000 Jobs

The Bureau of Labor Statistics (BLS) revised down by 911,000 the number of jobs created from March 2024 through March 2025. According to Reuters, economists had expected revisions to be between 400,000 and 1 million. This follows recent significant downward revisions for the months of May 2025 and June 2025. The labor market has been struggling under trade policy uncertainty and the immigration crackdown, which has impacted the supply of workers.  The final payroll revision for the March 2024 through March 2025 period is expected in February 2026.

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