U.S. Job Growth Revised Down, Signs of Cooling Labor Market

BlockBeats News, August 28th - As of March of the following year, U.S. job growth was milder than previously reported, highlighting a downward trend in the labor market. This trend is one of the reasons prompting the Federal Reserve to cut interest rates in 2025 despite ongoing inflation.

According to preliminary benchmark revision data released by the U.S. Bureau of Labor Statistics on Friday, nonfarm payrolls may have decreased by 79,000, a decline of 0.1%. The final data will be released in early next year.