BLS to Trim Payroll Job Count by 79,000 in Upcoming Revision
The Bureau of Labor Statistics announced a forthcoming reduction of 79,000 payroll jobs, signaling a softer labor market than previously reported.
A preliminary notice from the Bureau of Labor Statistics indicates that the total number of payroll jobs will be revised downward by 79,000, with private-sector employment reduced by 178,000. This adjustment is part of the agency’s annual benchmark revision, scheduled for February, which reconciles the monthly establishment survey with the Quarterly Census of Employment and Wages covering over 95% of U.S. jobs. Recent years have seen sizable revisions due to pandemic-related drops in response rates and distortions from illegal immigrant workers counted in one survey but not the other.
The downgrade suggests the labor market is weaker than earlier estimates, a setback for President Donald Trump as his economic approval ratings have slipped amid persistent inflation. Last year, Trump dismissed BLS Commissioner Erika McEntarfer after a report showing major downward revisions, labeling it “rigged.” Brett Matsumoto, a Trump appointee, assumed the commissioner role earlier this month.
Why it matters
Revised job figures could reshape perceptions of economic health and influence policy and political sentiment.
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