Fed confronts up to a million US jobs 'vanishing' in revision

US job growth may be much weaker than previously thought, with revisions expected to show a potential loss of up to one million jobs through March 2024. Economists from Goldman Sachs and Wells Fargo anticipate a downward adjustment of at least 600,000. Such a significant change, if confirmed, would mark the largest revision in 15 years. This could impact upcoming Federal Reserve decisions on interest rates amid slowing employment trends. “A large negative revision would indicate that the strength of hiring was already fading,” experts noted. The final numbers will be released in early 2025.