As part of the agency’s annual benchmark review of payroll data, the Bureau of Labor Statistics revised down March 2023’s employment gains by 306,000 positions.
When the economy stops growing, we will see non-farm payroll employment fall.
The Labor Department’s monthly jobs report is based upon survey responses from employers across a wide swath of industries.
Wednesday’s preliminary benchmark revision won’t change the existing employment data.
The monthly totals for 2022 will be updated in February 2024, when the final benchmark revision is issued.
Persons:
Chris Rupkey, FwdBonds, ”
Organizations:
Minneapolis CNN, of Labor Statistics, Labor, BLS, Quarterly
Locations:
Minneapolis