US Employment Data Revised Downward by 79,000 Jobs
A preliminary benchmark revision to Nonfarm employment data was released by the US Bureau of Labor Statistics (BLS) on Friday, showing that the level of nonfarm employment in March 2026 should be revised downward by 79,000 jobs.
The BLS conducts an annual benchmark revision to ensure the accuracy of its monthly estimates. This year's preliminary estimate is based on a comparison between the Current Employment Statistics (CES) survey and the Quarterly Census of Employment and Wages (QCEW).
While the release has caused some market reaction, with the US Dollar outperforming its major rivals in the American session on Friday, the BLS noted that the preliminary benchmark revision will not immediately change the official payroll data.
The final benchmark revision, which will be issued in February 2027, will incorporate these changes into the historical series with the Employment Situation report.