August 2019

US Job Growth Much Weaker Than Previously Reported

According to CNN, the initial released number of positions added from April 2018 to March 2019 has been decreased by 501,000. That means the monthly average during that time is around 170,000. It was previously believed to have been over 200,000 jobs added a month A big part of the revision was in the United States' retail section, which is struggling due to the rise of online shopping. The government initially thought that 32,500 jobs were cut during the year-long stretch. After revisions, it has been revealed that almost 180,000 retail positions were eliminated. It was also previously thought that 434,000 jobs were added into the leisure and hospitality industry. But now that number has been decreased to 260,000.