US Job Market Weakens Significantly in 2024, Largest Revision on Record
TL;DR Summary
New preliminary data reveals the US job market was significantly weaker in 2024 and early 2025 than previously reported, with substantial downward revisions in employment figures across key sectors, raising concerns about economic health and increasing pressure on the Federal Reserve to cut interest rates.
Topics:business#2024-revisions#economic-outlook#economy#employment-data#federal-reserve#us-job-market
- New data shows the US job market was much weaker than thought in 2024, and this year as well AP News
- Massive jobs revisions are a stain on Joe Biden’s legacy, too CNN
- Job Growth Revised Down by Nearly a Million, Updated BLS Data Shows The New York Times
- US economy added 911,000 fewer jobs than previously reported in largest-ever revision ABC News
- US payrolls benchmark revision estimate suggests labor market weaker than previously thought Reuters
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