Nonfarm Payroll Growth Revised Down by Nearly 30 Percent | Business Matters (Aug. 21)

The labor market appears to be weaker than initially reported. The Labor Department has revised nonfarm payroll growth down by 818,000 jobs, nearly 30 percent less than initially reported. This revision covers the time period from April last year to March this year. The sector with the biggest downward adjustment was professional and business services.