BLS Adjusts 2025 Nonfarm Payroll Figures Downward by 1 Million Jobs
Summary of BLS Payroll Revisions for 2025 and 2024
The Bureau of Labor Statistics (BLS) made significant downward adjustments to nonfarm payroll figures in its 2025 annual update, reducing the total by 1.029 million jobs. The majority of these changes were concentrated in the first four months of the year, with January 2025 alone seeing a reduction of 785,000 positions. After these revisions, the net job increase for the entire year stood at just 229,000, averaging only 19,000 new jobs each month. It is anticipated that further downward revisions may follow.
Looking back at the 2024 annual revision, the BLS also lowered nonfarm payrolls by 610,000 jobs, with the most substantial adjustment occurring in January, which saw a decrease of 511,000 jobs.
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