There were 818,000 fewer jobs created than previously reported, the U.S. Bureau of Economic Analysis (BLS) admitted Wednesday in its revision of the job growth for the 12 months through March 2024.

That averages a monthly decrease of 68,167 jobs, dropping monthly job growth to 174,000 – well below the 200,000 benchmark separating “good” from “poor” monthly growth.

Due to the downward revisions to the 12-month, non-farm job estimates:

The BLS report represents its yearly preliminary estimate of the upcoming annual benchmark revision to the establishment survey employment series. The final benchmark revision will be issued in February 2025 with the publication of the January 2025 Employment Situation news release.