🔻The U.S. Bureau of Labor Statistics will release preliminary benchmark revisions to its nonfarm payrolls for April 2024-March 2025 on September 9.
🔻GS estimates this revision could reduce reported payrolls by 550,000 to 950,000 jobs. This means the previous monthly U.S. job growth figures were significantly overestimated by 45,000 to 80,000 jobs.
🔻If confirmed, this would be the largest 12-month data revision since 2010. The previous data for the year ending March 2024 was revised downward by 589,000.
🔻This is also the United States.