The U.S. economy created nearly one million fewer jobs over the past year than previously thought, according to newly revised data from the Bureau of Labor Statistics, and the biggest percentage losses came from industries tied to technology—an area that is under scrutiny from economists assessing the impact of artificial intelligence.
The BLS’s Preliminary Benchmark Revision cut total employment between March 2024 and March 2025 by 991,000 jobs, a 0.6% downward adjustment. That marks one of the sharpest annual recalibrations in recent history. Prior to Friday’s release, economists had expected a revision closer to 682,000. The BLS noted that benchmark revisions are usually within a plus-minus of 0.2%.
