In what is the largest such revision in a decade, the government’s estimate of the total number of jobs created in 2018 was slashed by about half a million this week.
“The economy had about 501,000 fewer jobs as of March 2019 than the Bureau of Labor Statistics initially calculated in its survey of business establishments,” Market Watch reports. “The average 223,000 monthly increase in employment in 2018 — the strongest in three years — could be trimmed to 180,000 to 185,000, economists estimate.”
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