US nonfarm payrolls revised down 79,000 for the 12 months ending March 2026, continuing a 4-year streak of downward adjustments totaling 2.5M jobs.
Macro & Markets ·
The Bureau of Labor Statistics revised total nonfarm payrolls downward by 79,000 for the 12 months ending March 31, 2026, extending a fourth consecutive year of downward adjustments. The revision was driven primarily by a 178,000 reduction to private payrolls, partially offset by a 99,000 increase to government positions. Over the past eight years, cumulative revisions have totaled approximately 2.5 million jobs downward, with last year's adjustment of 911,000 marking the largest single revision recorded.