The US added 818,000 fewer jobs this year than originally estimated

The U.S. Bureau of Labor Statistics just reported that the U.S. added 818,000 fewer jobs over the last 12 months (through March) than they previously predicted. The -0.5% difference was reported in the preliminary estimate of the annual revision to the BLS employment series. Consumers won’t know the final numbers until February.

The largest discrepancy occurred in the professional and business services sector, with the revision showing 358,000 fewer jobs than originally reported. The retail...