Summary
The U.S. economy added 911,000 fewer jobs than previously thought between April 2016 and March 2017, according to revised data from the Labor Department. This revision suggests the job market was weaker during that period, and it raises concerns about the health of the economy. The Federal Reserve is considering these figures as it prepares for a possible interest rate cut.
Key Facts
- The U.S. added 911,000 fewer jobs than initially estimated from April 2016 to March 2017.
- The Labor Department released this revised data, showing a slower job market growth.
- Economists anticipated a downward revision in job numbers.
- The Federal Reserve is monitoring job market data before its meeting next week.
- The unemployment rate increased slightly from 4.2% to 4.3% in August.
- These figures coincide with political changes, including President Trump firing the head of the Bureau of Labor Statistics.
- There is concern that recent tariff and immigration policies may negatively affect the economy.
- Despite the revision, the S&P 500 index remained steady in early trading on Tuesday.
