US job gains revised down by over 800,000
The gist
US 2025 job growth was revised down 90%, from 1.21 million to 116,000 jobs.
The weaker labor market means the Federal Reserve acted on overstated numbers.
How it unfolded
- Oct 20, 2026The BLS state employment report showed only two states with statistically significant payroll growth in September: New Jersey added 14,900 jobs and South Carolina gained 12,500, while Wisconsin lost 13,700.
- Oct 22, 2026The Labor Department reported 194,000 initial unemployment claims in the week ended Oct. 17, down 6,000 from the previous week and at or below 200,000 for six consecutive weeks.
- Oct 23, 2026Reports said most of 2025's reported job gains were wiped out, with a 90 percent downward revision from 1.21 million jobs to just 116,000.