Tue, 09 Sep 2025

Tue, 09 Sep 2025 US created 911,000 fewer jobs than thought in year to March

The weaker-then-expected figure bolstered concerns about the health of the world's largest economy.

* Preliminary data from the Labor Department shows that the US economy added 911,000 fewer jobs than initial estimates between March and now.
* The revised figure suggests a slower pace of job growth at the end of the Biden administration and in the first months of the Trump administration.
* Economists had anticipated a large downward revision, but the weaker-than-expected figure has bolstered concerns about the health of the world's largest economy.
* The Federal Reserve is watching for signs of softness in the jobs market ahead of its meeting next week and is expected to lower interest rates in response.
* The job growth revisions come at a time when President Trump has been criticizing the Labor Department, accusing it of rigging numbers to make him look bad.
* Analysts say the recent troubles in the job market are partly due to the president's sweeping changes to tariff and immigration policy.
* The White House is pushing for Jerome Powell, chair of the Fed, to cut interest rates now, with Press Secretary Karoline Leavitt saying "President Trump was right: Biden's economy was a disaster and the BLS is broken".
* Investors remain on edge ahead of fresh inflation data being released on Thursday, which could bring fears of stagflation to the forefront.
* The Labor Department's revisions were broad-based, with large adjustments in services sectors including leisure and hospitality.
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