Job Market Reality Check: BLS Set to Erase Up to a Million Jobs from 2023-2024 Estimates The Bureau of Labor Statistics is expected to release preliminary benchmark revisions that could significantly reduce the estimated job growth for the year ending March 2024. Economists from major financial institutions predict a downward revision of between 360,000 to potentially 1 million jobs, which would be the largest adjustment in 15 years. This revision suggests that the labor market may have been cooling more rapidly and for a longer period than initially thought, potentially influencing the Federal Reserve’s decisions on interest rate cuts. The news could impact Fed Chair Jerome Powell’s upcoming speech at Jackson Hole and shape the central bank’s approach to balancing inflation control with maintaining full employment. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold Prices Steady After Major Sell-Off Amid China and U.S. Economic News READ MORE Russian Finance Ministry Accelerates De-Dollarization with Massive Gold Buy READ MORE Why Britain Is Still Paying the Price for Gordon Brown’s Gold Bullion Blunder READ MORE Banks Offload Bonds at a Loss, Betting on Future Fed Rate Reductions READ MORE Global Central Banks Begin Slow Shift to Rate Cuts Amid Varying Economic Conditions READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment