{"id":130445,"date":"2025-09-09T14:59:10","date_gmt":"2025-09-09T14:59:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/130445\/"},"modified":"2025-09-09T14:59:10","modified_gmt":"2025-09-09T14:59:10","slug":"bls-preliminary-annual-jobs-revision-down-by-911k-versus-682k-estimate","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/130445\/","title":{"rendered":"BLS preliminary annual jobs revision down by &#8211; 911K versus -682K estimate"},"content":{"rendered":"<p data-v-4026719d=\"\">The BLS preliminary estimate of nonfarm payrolls benchmark revision would:<\/p>\n<p>Decrease March 2025 level of employment by -911K or -0.6%.<\/p>\n<p data-v-4026719d=\"\">The consensus was for a decline of -682K. Forecast range from -200K to -900K<\/p>\n<p data-v-4026719d=\"\">The revision is the largest on record.<\/p>\n<p data-v-4026719d=\"\">In 2024 it showed a revision of -548K<\/p>\n<p data-v-4026719d=\"\">Looking at the different sectors, the biggest decline was in trade, transportation, and utilities (- 226K). There were no sectors that showed a positive revision. Professional business services saw a downward revision of &#8211; 158K and leisure and hospitality a decline of &#8211; 176K.<\/p>\n<p data-v-4026719d=\"\">The data shows a weaker employment picture than previously reported, and certainly would motivate the Fed to cut. It also highlights the data problem that has started to creep into the economic releases.<\/p>\n<p data-v-4026719d=\"\">US yields remain higher, with the two-year up 2.2 basis points at 3.517%. The 10-year yield is also up 2.2 basis points at 4.068%.<\/p>\n<p data-v-4026719d=\"\">US stocks are mixed with the Dow industrial average down -0.3%. The S&amp;P is up 0.7% and the NASDAQ index is up 0.10%. Recall the NASDAQ index closed at a record level yesterday.<\/p>\n<p data-v-4026719d=\"\"> The S&amp;P index record high close came in at 6507.95 on September 8. The current price is at 6500.70<\/p>\n","protected":false},"excerpt":{"rendered":"The BLS preliminary estimate of nonfarm payrolls benchmark revision would: Decrease March 2025 level of employment by -911K&hellip;\n","protected":false},"author":2,"featured_media":130446,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-130445","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/130445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=130445"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/130445\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/130446"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=130445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=130445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=130445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}