Key facts
- U.S. job growth for the 12 months ending March was revised down by 911,000.
- This revision indicates an average of approximately 76,000 fewer jobs created per month.
- The manufacturing sector saw a job loss of 78,000 over the past year.
- Recent monthly job growth has averaged 29,000.
- The August jobs report showed 22,000 jobs added, and June's growth was revised to a loss of 13,000.
Revised data from the U.S. Bureau of Labor Statistics indicates that the economy created 911,000 fewer jobs than previously reported in the 12 months leading up to March. This downward revision suggests an average of approximately 76,000 fewer jobs were created each month during that period. The weakening labor market is further underscored by recent monthly figures, with an average of only 29,000 jobs added in the three most recent months. The August jobs report showed 22,000 jobs created, and June's growth was revised downward to a loss of 13,000 jobs. The manufacturing sector alone experienced a decline of 78,000 jobs over the past year. These figures have led some economists to conclude that the U.S. labor market is stagnating. Analysts also suggest that the administration's immigration policies may be contributing to the slowdown in labor force growth. Labor Secretary Lori Chavez-DeRemer expressed concerns about the integrity of the BLS data, a sentiment echoed by President Donald Trump's administration, which has been scrutinizing the agency. The revisions are a normal part of the annual process, incorporating additional data not available at the time of initial monthly reports.