Job Growth Sees Downward Revision By 911,000 Through March, Signaling Weaker Labor Market Than Previously Reported

The Labor Department on Tuesday revised estimates of nonfarm payroll additions between April 2024 and March 2025, reflecting a decrease of 911,000 jobs during the period, indicating a weaker labor market than previously reported.

The Bureau of Labor Statistics report showed a higher-than-average adjustment to jobs data during annual revisions. The report showed a downward revision of 0.6% in total nonfarm employment during the period from April 2024 to March 2025, compared to an average of 0.2% over the last 10 years.

The BLS report covers nearly nine months of the Biden administration’s term, and a little over two months since Trump took the oath on Jan. 20, 2025. While the data itself does not reflect the current labor market situation, it underscores that past job growth in the U.S. was not as strong as previously reported.

Tuesday’s BLS report is preliminary, and a final revision is scheduled for February 2026, the department stated. The downward payroll revision comes two months after President Donald Trump fired BLS’s then-commissioner Erika McEntarfer, following a downward revision in jobs numbers for May and June by 258,000.

Meanwhile, U.S. equities edged up in Tuesday morning’s trade. At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.02%, while the Invesco QQQ Trust (QQQ) rose 0.1%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

The iShares 7-10 Year Treasury Bond ETF (IEF) was down 0.18% at the time of writing.

Also See: Starbucks CEO Brian Niccol Reportedly Sees Green Shoots Of Recovery A Year After He Took Over

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