The US added 911,000 fewer jobs than previously thought in the year to March, according to new official statistics that suggest the labour market in the world’s biggest economy began cooling sharply in 2024.
The figures from the Bureau of Labor Statistics show national employment in the 12 months to March 2025 was far below levels in its closely watched monthly reports and indicate jobs growth began to lose steam in the latter part of Joe Biden’s presidency.
Yesterday’s revision is the largest on record and roughly halves the 1.8mn job growth figure the agency had previously estimated for the year.
The report will be a boost to President Donald Trump, who has argued that his aggressive tariff and immigration policies were not to blame for recent signs of weakness in the labour market.
“These revisions suggest that jobs momentum is being lost from an even weaker position than originally thought,” said James Knightley, chief international economist at ING.
Trump’s administration also used the data — which will further raise pressure on the US Federal Reserve to cut interest rates next week — to renew its attacks on Biden.
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- Émission
- FréquenceTous les jours
- Publiée14 octobre 2025 à 23:00 UTC
- Durée1 min
- Épisode2
- ClassificationTous publics