Indicators
US Payrolls Marked Down by Most Since 2009 in Preliminary Data
- Early revision showed 818,000 fewer jobs in year through March
- Pace of job growth still healthy but moderation began sooner
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US job growth was probably far less robust in the year through March than previously reported, keeping pressure on the Federal Reserve to cut interest rates next month.
The number of workers on payrolls will likely be revised down by 818,000 for the 12 months through March — or around 68,000 less each month — according to the Bureau of Labor Statistics’ preliminary benchmark revision. It was the largest downward revision since 2009.