The federal government’s estimate of the total number of payroll jobs is likely to be revised down by 79,000, the Bureau of Labor Statistics said Friday.
The update, a preliminary notice of forthcoming revisions to the jobs numbers, means that the labor market has been slightly weaker than thought. That is a minor setback for President Donald Trump, whose economic approval ratings have plummeted in recent months thanks to high inflation, which has been accompanied by modest job growth numbers.
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