US job growth was far less robust in the year through March than previously reported, adding to mounting pressure on the Federal Reserve to lower interest rates.
The number of workers on payrolls will likely be revised down by a record 911,000, or 0.6%, according to the government’s preliminary benchmark revision out Tuesday. The final figures are due early next year.
Before the report, the government’s payrolls data indicated employers added nearly 1.8 million total jobs in the year through March on a non-seasonally adjusted basis, or an average of 149,000 per month. The revision showed average monthly job growth was roughly half that.

For instant reaction and analysis, Bloomberg's Tom Keene and Scarlet Fu spoke with:
Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist
Michael McKee, Bloomberg International Economics and Policy Correspondent
Stephanie Roth, Wolfe Research chief Economist 

 

US job growth was far less robust in the year through March than previously reported, adding to mounting pressure on the Federal Reserve to lower interest rates. The number of workers on payrolls will likely be revised down by a record 911,000, or 0.6%, according to the government&rsquo;s preliminary benchmark revision out Tuesday. The final figures are due early next year. Before the report, the government&rsquo;s payrolls data indicated employers added nearly 1.8 million total jobs in the year through March on a non-seasonally adjusted basis, or an average of 149,000 per month. The revision showed average monthly job growth was roughly half that.
For instant reaction and analysis, Bloomberg's Tom Keene and Scarlet Fu spoke with:
<ul>
<li>Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist</li>
<li>Michael McKee, Bloomberg International Economics and Policy Correspondent</li>
<li>Stephanie Roth, Wolfe Research chief Economist&nbsp;</li>
</ul>
&nbsp;

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment. Listen to Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern for the top interviews from Bloomberg Surveillance Television. And join Tom Keene and Paul Sweeney for the best conversations from Bloomberg Surveillance Radio. Watch Surveillance TV LIVE each mornings: http://bit.ly/3P7nstQ. Watch Surveillance Radio LIVE weekday mornings: http://bit.ly/3vTiACF. 

The economy and the markets are "under surveillance" as we cover the latest in finance, economics and investment. Listen to Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern for the top interviews from Bloomberg Surveillance Television. And join Tom Keene and Paul Sweeney for the best conversations from Bloomberg Surveillance Radio. Watch Surveillance TV LIVE each mornings: <a href="http://bit.ly/3P7nstQ" data-destination="rte:bind">http://bit.ly/3P7nstQ</a>. Watch Surveillance Radio LIVE weekday mornings: <a href="http://bit.ly/3vTiACF" data-destination="rte:bind">http://bit.ly/3vTiACF</a>.

Tom Keene and Paul Sweeney have the economy and the markets "under surveillance" as they cover the latest in finance, economics and investment.

Bloomberg Surveillance

Instant Reaction: US Payrolls Marked Down a Record 911,000 in Preliminary Estimate

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/6fa67c84-c541-4ddc-8e11-b35300f28311/transcript

Advertisement