The US added 911,000 fewer jobs than previously thought in the year to March, according to new official statistics that suggest the labour market in the world’s biggest economy began cooling sharply in 2024.
The figures from the Bureau of Labor Statistics show national employment in the 12 months to March 2025 was far below levels implied by its closely watched monthly jobs reports and indicate labour market growth had begun to lose steam in the latter period of Joe Biden’s presidency.
Tuesday’s revision is the largest on record and roughly halves the 1.8mn job growth figure the agency had previously estimated for the period from April 2024 to March 2025, with monthly hiring averaging about 75,000 positions less than thought.
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