US economy created 818,000 fewer jobs than previously reported

 Labor Department releases key payroll data

U.S. job growth during much of the past year was significantly weaker than previously believed, according to new data published Wednesday.

The Bureau of Labor Statistics revised down its total tally of jobs created in the year through March by 818,000.

The agency's annual benchmark revision is mostly derived from state unemployment tax records that employers are required to file. The figure released Wednesday is preliminary and may be updated when the government releases the final figure in February 2025.