The new numbers put more pressure on the Fed to lower interest rates, which have remained high for over a year.
WASHINGTON — The U.S. economy added 818,000 fewer jobs from April 2023 through March this year than were originally reported, the government said Wednesday. The revised total adds to evidence that the job market has been slowing and likely reinforces the Federal Reserve’s plan to start cutting interest rates soon.
The Labor Department estimated that job growth averaged 174,000 a month in the 12 months that ended in March — a drop of 68,000 a month from the 242,000 that were initially reported. The revisions
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