What are we to make of the revised, and significantly weaker, U.S. job numbers?

Newell Normand

U.S. job growth during much of the past year was significantly weaker than previously reported, 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 a whopping 818,000 as part of its preliminary annual benchmark review of payroll data. That suggests the economy added an average of 174,000 jobs per month during that time period—below the previous 242,000 estimate. On a monthly basis, that amounts to about 68,000 fewer jobs. It marks the largest downward revision since 2009. Bankrate.com Analyst Sarah Foster joins Newell to explain what these numbers mean.