Yesterday the Bureau of Labor and Statistics (BLS) revised the annual jobs report to remove 818,000 previously recorded jobs.
[…] “The Bureau of Labor Statistics revised down its total tally of jobs created in the year through March by 818,000 as part of its preliminary annual benchmark review of payroll data. That suggests the economy added an average of 174,000 jobs per month during that time period — below the previous 242,000 estimate. On a monthly basis, that amounts to about 68,000 fewer jobs. It marks the largest downward revision since 2009.” (read more)
When asked about the troubling indicator of this revision, Commerce Secretary Gina Raimondo had no idea the BLS had made this announcement. WATCH: