US non-farm payrolls revised down by 911,000, increasing pressure for interest rate cuts

ChainCatcher news, according to Golden Ten Data, based on the preliminary results of the annual benchmark revision released by the U.S. government on Tuesday, non-farm employment in the United States is expected to be revised down by 911,000 people in the 12 months ending this March, equivalent to an average monthly decrease of nearly 76,000 people. The final data will be released early next year. This adjustment indicates that the recent slowdown in the labor market may lay the foundation for the Federal Reserve to cut interest rates, and traders generally expect the Fed to announce a rate cut at its next meeting.