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Payroll benchmark revision cuts 79,000 jobs from count
A preliminary benchmark revision to non-farm payrolls removed 79,000 jobs, contrary to expectations of a gain.
28/08/2026 18:512 min read
A year ago, a benchmark revision to non-farm payrolls removed 911,000 jobs, causing considerable anxiety.
The latest revision, covering the year through March, showed a decline of 79,000 jobs, compared with the consensus forecast of a 183,000 increase. This equates to a monthly average loss of 6,600 jobs. Private payrolls fell by 178,000, with retail trade being the largest contributor.
The revision is seen as a dovish indicator for the labor market, though it is preliminary and will be updated with a final figure in January.
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