The U.S. economy added 818,000 fewer jobs than previously reported between March 2023 and March 2024, marking the largest revision since 2009.
Brian Albrecht stated, "It's a big revision, but we expected a big revision. Private forecasters were putting out anything from 350,000 to a million..."
Eric Wallerstein noted, "The market's lack of reaction is pretty telling. I think the revisions, you can say, they were priced in."
Wallerstein explained that the negative revision dropped monthly payroll growth from 241,000 additions to 174,000, reflecting averages from 2018 and 2019.
Collection
[
|
...
]