DOL Releases Revised Job Numbers

On Wednesday, August 21, 2024, the Department of Labor(DOL) released revised data indicating previous reports overestimated job growth, during the twelve months ending in March 2024, by as much as 812,000. The latest report indicates that employers added approximately 174,000 jobs per month during that period, a decrease from the previously reported rate of 242,000 jobs per month, a downward revision of roughly 28 percent. The revision is part of a standard review process that reconciles timely survey data with more accurate unemployment data provided by states.