Reported about 2 months ago
The US economy experienced a downward revision of 818,000 jobs as of March 2024, indicating a potential earlier cooling in the labor market than previously thought. The Bureau of Labor Statistics reported significant declines in the professional and business services sector, as well as in leisure and hospitality. Despite this reduction, experts suggest the job growth rate remains healthy overall, cautioning that the data does not fundamentally alter broader economic trends. The revision arrives amidst indications of an easing labor market, which may influence Federal Reserve policy discussions at the upcoming Jackson Hole Symposium.
Source: YAHOO