2025 Annual Revision Notes • In its 2025 annual revision, the BLS revised nonfarm payrolls for 2025 lower by 1.029. • Most of the change occurred between January and April. • The biggest revision was -785,000 in January of 2025. • For the full year, the as-revised job gain was a grand total of 229,000. That’s an average of 19,000 jobs per month. • These numbers are subject to further negative revisions (which I expect). 2024 Annual Revision Notes In its 2024 annual revision, the BLS revised nonfarm payrolls lower by 610,000 million. • Most of the change occurred in January with a -511,000 adjustment. • For the full ... (full story)