BLS jobs revisions for the 12 months ending 3/31/2025 were -911K vs -682K exp. This implies that jobs created per month for the 12 months ended 3/31/2025 were far slower +70K instead of +146K originally reported. This may cause some Fed members to argue for a 50bp rate reduction next week although the FOMC is still highly likely to stay with the 25bp cut expected (odds now 112% of a 25bp cut). The quarterly dot plot could be more accommodative.
No existing monthly data was updated in today’s release. Tuesday’s release of the preliminary revision is akin to a “preview” of final revisions that will be published in February.The copyright of this article belongs to the original author/organization.
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