Jobs Report Revision: U.S. Job Growth Weaker Than Initially Reported, Data Show.

New government data suggests that the job market in the United States from early 2023 through early this year was not as strong as initially reported. The Labor Department estimates that employers may have added 818,000 fewer jobs in the 12 months through March, indicating a monthly job growth of around 178,000 jobs instead of the previously reported 246,000 jobs. This revision is based on more comprehensive but less timely data from state unemployment-tax records. However, it is important to note that these preliminary estimates may be revised upward or downward when the official adjustment is made in February. Some analysts also argue that the revised payroll figures may not account for the recent surge in immigration, which has contributed to the job market. [Extracted from the article]