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US: Stagflation jitters grow after steepest jobs downgrade in decades
The labor market is not as strong as it initially appeared. A massive government revision released Tuesday showed the US economy added 911,000 fewer jobs in the 12 months through March 2025 than initially reported — the steepest downgrade in at least two decades, according to preliminary estimates from the Bureau of Labor Statistics. That sobering revision came just days after August payrolls data showed the job market slowdown is still underway. Job growth came in far weaker than expected, with payrolls up only 22,000 last month, averaging a tepid 29,000 over the past three months. Additionally, modest downward ... (full story)
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