U.S. Job Growth Downgraded, Signaling Cooling Labor Market
BlockBeats News, August 28th - As of March of the following year, U.S. job growth was milder than previously reported, highlighting a weakening trend in the labor market, prompting the Federal Reserve to continue its rate cuts in 2025 despite ongoing inflation.
According to preliminary benchmark revision data released by the U.S. Bureau of Labor Statistics on Friday, nonfarm payrolls could be revised down by 79,000, a decrease of 0.1%. The final data will be released in early next year.
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