[International] US Bureau of Labor Statistics Revises Down Data, Employment Growth Lower Than Expected Over Past Year
RtiTalk 小編21d ago
Revised data from the U.S. Bureau of Labor Statistics (BLS) shows that employment growth from early 2025 to early this year was lower than previously reported figures, indicating that the actual state of the U.S. economy is weaker than previously thought.
The Wall Street Journal reported that data released by the Bureau of Labor Statistics on the 28th showed that the number of jobs added in the United States during the 12 months ending in March of this year was 79,000 fewer than previously reported.
Specifically, employment in the private sector in March of this year was 178,000 lower than previously reported official data, with the decline concentrated in the retail and wholesale trade industries. Employment in healthcare and private education, as well as professional and business services, may also be lower than previously reported.
While the relevant data still needs to be adjusted for seasonal factors, the seasonally adjusted average employment increase may still be lower than the current official estimate of about 23,000 jobs per month.
The sluggish employment growth aligns with a "hesitant atmosphere among businesses regarding both hiring and layoffs." Concurrently, an aging population and strictly limited immigration policies have also led to a reduced supply of new labor.
In contrast, employment in public sectors such as federal, state, and local governments was 99,000 higher than the original data.
When releasing its monthly employment report, the U.S. Bureau of Labor Statistics primarily relies on a survey covering approximately 119,000 employers, which account for about 25% of U.S. employment positions. The Bureau also obtains more comprehensive data from tax records, such as unemployment insurance, from various states.
Because the Bureau of Labor Statistics' survey is limited to existing employers, some newly established businesses are not included in the scope of the survey. This makes it difficult for the Bureau to accurately estimate the number of business closures in real-time, as it takes time to determine whether a business has merely stopped responding to the survey or has truly ceased operations.
Although the Bureau of Labor Statistics introduced new methods and adjusted relevant models at the beginning of this year in an effort to achieve greater accuracy, economists believe the improvement is limited, and employment growth since March of last year may still be overestimated.
The Washington Post pointed out that private sector job growth from April 2025 to March of this year was lower than initially reported by officials. During this period, President Trump's global tariffs and other policies began to impact certain sectors of the economy.
The Washington Post noted that revisions to employment data in recent years indicate that the actual state of the U.S. economy is much weaker than previously thought. This is not good news for the Trump administration. As rising prices place a greater burden on Americans, the Trump administration has already faced criticism over economic issues before the midterm elections. (Editor: Song Wanyuan)
Source Link: https://www.rti.org.tw/news?uid=3&pid=229118
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