Major Revision Reveals Significant Overstatement in US Job Numbers

The Bureau of Labor Statistics corrects job growth estimates, reducing figures by 818,000 for the past year.

The downward revision is the largest since 2009, affecting data from April 2023 to March 2024.
Initial job growth estimates were overstated by approximately 68,000 jobs per month.
Concerns arise over the accuracy of government statistics, though no evidence of manipulation was found.
Experts attribute part of the discrepancy to uncounted jobs held by unauthorized immigrants.
Despite the revision, the US economy still showed net job growth over the period.