WASHINGTON (AP) — The U.S. economy added 818,000 fewer jobs from April 2023 through March this year than were originally reported, the government says.
The revised total adds to evidence that the job market has been steadily slowing and likely reinforces the Federal Reserve’s plan to start cutting interest rates soon.
Job growth averaged 174,000 a month in the 12 months that ended in March — a drop of 68,000 a month from the 242,000 that were initially reported.
The revisions are preliminary, with final numbers to be issued in February next year.
This is a developing story. Check back for updates as more information becomes available.
Download the FREE Boston 25 News app for breaking news alerts.
Follow Boston 25 News on Facebook and Twitter. | Watch Boston 25 News NOW
©2024 Cox Media Group