The monthly employment reports produced by the Bureau of Labor Statistics are based on surveys of businesses and households. The response rates are low and there are other methodological issues with the reports. Every year there is an annual revision to the prior employment number releases, based on reviews of state unemployment compensation filings, which are likely more accurate. Last year there was a large downward revision of the prior year’s employment numbers. This year the reduction in jobs was even larger, over 900,000 as of March of 2025. When you look at the total number of employed person and when you follow the overall trends, this isn’t hugely negative, but it is indicative of the ongoing problems in having the closely watched monthly reports be more accurate.
Almost all the reduction was in the private sector, with the following sectors prominent–retail and wholesale trade, professional and business services and leisure and hospitality. I will note that these sectors have volatile seasonal trends and tendencies toward short-term employment and frequent job changes, which make tracking actual worker numbers difficult. (BLS Report)
