The US Bureau of Labor Statistics just released its annual benchmark revisions for non-farm payrolls. There was the potential for a big swing but the numbers showed just 7K additional jobs in the year that ended in March.
Total payrolls grew by 2.28m in the March-to-March period.
The jobs were added in construction, manufacturing and other parts of the private sector while wholesale trade, education and health services and ‘professional and business services’ slipped.
NFP benchmark revisions
You would hope to see more jobs added in higher paying jobs and the losses in low-end work but the large fall in ‘professional and business services’ is a slight negative sign.