US job growth revisions signal economic weakness
The weaker-than-expected figure bolstered concerns about the health of the world's largest economy.
The US Labor Department's annual payroll revision shows the economy added 911,000 fewer jobs in the year to March than initially reported, signaling slower growth.
Economists had expected some downward adjustment, but the larger-than-anticipated revision has intensified concerns about the labor market and overall economic health.
The Federal Reserve, weighing signs of a slowdown ahead of its meeting next week, is expected to cut its benchmark interest rate.
Last week's report showed only 22,000 jobs added in August and a rise in unemployment from 4.2% to 4.3%, reinforcing expectations of Fed action.
The revisions span both the end of the Biden administration and the early Trump era, amid debates over the impact of tariff and immigration policies on job growth.
The significant downward adjustment suggests the US labor market is softer than previously thought, increasing pressure on the Federal Reserve to loosen monetary policy.
This topic was reported by BBC.
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