U.S. added 79,000 fewer jobs in 12 months through March, BLS says

The U.S. economy ​likely created ​79,000 fewer jobs in ​the 12 months through March than previously estimated, the government said ‌on Friday.

The ⁠preliminary ⁠annual benchmark revision estimate to the closely watched payrolls data from the Labor Department's Bureau of Labor Statistics (BLS) came weeks after it reported ⁠a surprise drop ‌in employment in July.

The U.S. job ⁠creation rate has already been decelerating over ​the last two years, ​in part because of slower demand for labor from businesses uncertain about the economic outlook ‌and whether the artificial intelligence boom would allow ​them to replace ​workers ⁠with tech tools. Also, there has been a reduction in the pool ​of available workers because of retirements and President Donald Trump's aggressive immigration crackdowns.


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