A preliminary revision from the Bureau of Labor Statistics (BLS) has erased 911,000 previously reported U.S. jobs, sending shockwaves through economic circles and cementing expectations for a Federal Reserve interest rate cut next week.
The historic downward adjustment for the year through March 2025 has raised fresh doubts about the strength of the labor market, with analysts warning it could stall a record-setting market rally and introduce new fears of stagflation.
