The Bureau of Labor Statistics revises benchmarks
– Private payrolls -255K
– Government jobs +47K
– The numbers are for the year ended in March
The average monthly change is -17K, which isn’t huge but it’s not the most comforting statistic either and it suggests a bit more slack in the US economy. It’s basically the equivalent of 2-3 months of jobs gains erased (because much of the gains each month simple replace demographics losses). It’s another argument for the Fed to wait a few more months.
