US Employment Growth Revised Downward, Signs of Labor Market Cooling More Apparent
As of March, the employment growth in the United States has been more moderate than previously reported, highlighting a downward trend in the labor market. This has prompted the Federal Reserve to consider interest rate cuts in 2025 despite ongoing inflation. According to preliminary benchmark revision data released by the U.S. Bureau of Labor Statistics on Friday, non-farm payrolls may be revised down by 79,000, a decrease of 0.1%. Final data will be published early next year.
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