Job Growth Revised Down
Revision
The Bureau of Labor Statistics revealed that the US economy added 911,000 fewer jobs between March 2024 and March 2025 than initially reported.
Context
The US economy added only 22,000 jobs in August, far below economists’ expectations. The unemployment rate rose to the highest level since October 2021, while wage growth also slowed.
President Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer last month following July's weak jobs report, which showed only 73,000 jobs added, and accused her of manipulating employment data. Trump nominated EJ Antoni, the chief economist at the Heritage Foundation, who has written pieces critical of the BLS, as McEntarfer’s replacement, though he awaits his confirmation.
Growth Cut
Tuesday’s preliminary revision showed that instead of adding the reported 1.8M jobs in the 12 months ending in March 2025, the economy actually added 911,000 fewer positions – meaning the BLS overstated job growth by roughly 100%.
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