U.S. Jobs Revision Shows a Much Smaller Adjustment
The preliminary annual NFP revision showed a 79,000-job downward adjustment, compared with a 911,000-job cut last year.
Analysis:This does not mean 79,000 jobs were lost in a single month. It is an annual adjustment to the estimated employment level. The much smaller revision compared with last year eases concerns that U.S. labor-market strength was overstated and could support the dollar.
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