Recent data released by the U.S. government showed that the U.S. economy lost about one million jobs within a single year, during the period between April 2024 and March 2025. The economy created about 911,000 fewer jobs in the 12 months leading up to March 2025 compared to previous estimates, indicating that job growth had already stalled before President Donald Trump imposed strict tariffs on imports.
This reading represents a preliminary estimate for the annual "benchmark" revision carried out by the Bureau of Labor Statistics for payroll data, which is closely monitored. The final benchmark revision will be issued in February, alongside the Bureau of Labor Statistics’ employment report for January.
