The U.S. economy created 818,000—or 30 percent—fewer jobs than the Bureau of Labor Statistics (BLS) reported from April 2023 to March 2024, representing the largest downward revision to payrolls since the global financial crisis.
The updated numbers were a part of the Department of Labor’s annual benchmark revisions to the payroll data. The BLS adjusts employment data annually to make the payroll figures more accurate, although it is less timely. Officials incorporate state unemployment insurance tax records and cover close to all U.S. jobs.
