US BLS Annual Benchmark Revisions to Total Nonfarm Payrolls (to March 2025): -898k SA, -862k NSA (vs prelim estimate of -911k, exp. -600 to -900k)

US BLS Annual Benchmark Revisions to Total Nonfarm Payrolls (to March 2025): -898k SA, -862k NSA (vs prelim estimate of -911k, exp. -600 to -900k)

The US BLS announced significant downward revisions to total nonfarm payrolls, with the latest adjustments reflecting a decrease of nearly 900k on a seasonally adjusted basis. This is more severe than both the preliminary estimate and market expectations, indicating potential weaknesses in the labor market that could impact economic growth and monetary policy moving forward. Traders should be mindful of how this alters the outlook for unemployment and broader economic indicators, particularly in relation to upcoming Fed decisions.