BLS cuts 911,000 jobs from payroll figures: Is the American labour market more fragile than it looks?
The US Bureau of Labor Statistics has significantly revised its employment data, cutting 911,000 jobs from previous reports. This substantial correction, concentrated in sectors like trade, leisure, and manufacturing, reveals a weaker labor market than initially believed. The revision impacts job seekers, current employees, and students, signaling slower hiring, increased competition, and potential wage stagnation.
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