BLS Revises U.S. Job Growth Down by 79,000 in Annual Benchmark Update
The Bureau of Labor Statistics (BLS) released its annual preliminary benchmark revision on August 28, 2026, revising total nonfarm employment for the year through March 2026 downward by 79,000 jobs—equivalent to a 0.1% reduction. The adjustment was more pronounced in private payrolls, which were revised down by 178,000 (also 0.1%). This revision brings average monthly job growth for the period closer to 11,000 from an earlier estimate of around 17,600. The downward adjustment was driven primarily by declines in retail trade, education and health services, manufacturing, and business services. However, employment increased in transportation and warehousing, information sectors, financial activities, construction, and government payrolls were revised higher. The preliminary benchmark revisions have now reduced employment estimates for seven out of the last eight years. The BLS aligns its payroll data with the Quarterly Census of Employment and Wages (QCEW), a more comprehensive but delayed dataset based on state unemployment insurance records.
Topics: benchmark update BLS job growth revision nonfarm payrolls