The latest benchmark revision from the U.S. Bureau of Labor Statistics, covering data up to March of this year, revealed that the U.S. economy created 911,000 fewer jobs than initially measured.
While a downward revision was widely tipped by analysts, with the consensus estimate of 600,000 fewer jobs being created, the actual figure surprised significantly to the downside.
This marked the largest downward revision in U.S. employment growth on this metric since records began in 2002.
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