September 9, 2025
Remember last year – when lots of you were saying how hard it was to find a job? Well you were right again. Today – we got new numbers that prove the jobs market in this country was not as strong as we all thought. But there may be an upside – which I’ll tell you about in a second.
First — today the Bureau of Labor Statistics revised the jobs numbers *down* by the largest amount we’ve seen in decades. Now – before I tell you the number – which is a big one – you need to understand….the BLS revises jobs numbers every month – but they also revise the numbers for the entire year. When we talk about jobs numbers every single month – those are always estimates – they are always meant to be revised. Even today’s annual revision that I’m telling you about in this video will be revised one more time. I know you’re thinking why all these revisions??? The answer is simple. Generally revisions are not bad. The numbers are revised because more data comes in so the bls can make a more accurate assessment of what’s going on. I’m not saying their system is perfect, I’m not saying it’s good or bad – I’m just saying this is how the system works. And for the record – bls data is the gold standard worldwide. Lastly, this annual revision that I’m talking about in this video — was done under the new leadership of the interim BLS administrator put in place by President Trump after he fired the last BLS administrator.
Ok – to the numbers.
According to today’s revisions which represent the jobs market from April of 2024 to March of 2025 – the Bureau of Labor Statistics says employers added 911,000 fewer jobs to their payrolls than we first thought. That averages out to about 76,000 fewer jobs added each month than initially reported. BLS found the leisure and hospitality industry saw 176,000 fewer jobs added between April 2024 and March of 2025. Professional and business services saw 158,000 fewer jobs than first reported and retail trade saw 126,000 fewer jobs than first reported. Don’t forget these aren’t the final numbers either. In February of 2026 the bls will release the final numbers for April 2024 to March 2025.
These numbers represent the last months of the Biden administration and the first two months of the Trump administration and they do not take into account how President Trump’s tariffs and economic policy are also factoring into the current jobs market. We’ll get those revisions next year.
So – let’s talk about the possible up side to today’s revisions from 2024 and early 2025. These revised numbers — combined with the weak august jobs numbers I reported in this video– will probably lead the federal reserve to cut interest rates when they meet next week….which is a welcome sign for a lot of people. But –why cut now? Well – the federal reserve governors have been saying all along –based on the numbers — the jobs market has been very strong and resilient but inflation has been creeping up so they felt comfortable keeping interest rates high in an effort to get that inflation down. But inflation is not coming down – its going up — and now that we know the jobs market isn’t really as strong as we thought either– that changes the calculation for the fed. This report means the fed will likely have to cut interest rates to try and stop any more job market weakening. But I need to warn you – lowering interest rates in this economy is a double edged sword – if and when rates are cut we could very well see inflation go up making everything we buy, use and eat even more expensive.
Read the report from the BLS here.
