Job market not so hot as US lowers number of jobs created by 306K
The red-hot US job market was not quite as blistering as originally reported in the year through March, after the Labor Department on Wednesday lowered its estimate of total payroll employment that month by 306,000 and of private employment by even more.
The reduction, the first of two annual “benchmark” revisions conducted by the department as it takes on board more data to give as accurate as possible a reading of the US employment situation, suggests government and private employers had about 155.17 million workers on their books in March, down from about 155.47 million as previously reported. The revision represented a total downward change of about 0.2%.
Private employment growth was revised down by 358,000, or 0.3% below what had been previously estimated by the department. Government employment was revised up by 52,000, or 0.2%.
The red-hot US job market was not quite as blistering as originally reported in the year through March, after the Labor Department on Wednesday lowered its estimate of total payroll employment that month by 306,000 and of private employment by even more.
The reduction, the first of two annual “benchmark” revisions conducted by the department as it takes on board more data to give as accurate as possible a reading of the US employment situation, suggests government and private employers had about 155.17 million workers on their books in March, down from about 155.47 million as previously reported. The revision represented a total downward change of about 0.2%.
Private employment growth was revised down by 358,000, or 0.3% below what had been previously estimated by the department. Government employment was revised up by 52,000, or 0.2%.
