The Bureau of Labor Statistics revised total employment numbers, showing a 911,000 overstatement in U.S. jobs, with 880,000 in the private sector. However, the Transportation and Warehousing subsector saw a 6,600 job increase, only a 0.1% difference from the current model.

Other sectors like Government and Education & Health Services saw a 0.1% decrease, while Information had the largest reduction at 2.3%. The overall decline of 911,000 jobs equated to a 0.6% drop from the model.

The revised numbers from the BLS annual update will impact the monthly employment report released on February 6. Transportation & Warehousing sector base numbers rose 56,400 from last year, totaling 6,747,700 jobs in the most recent report.

Economist Aaron Terrazas noted that despite minor upward revisions in the Transportation sector, industries driving transportation demand are struggling. The recent employment report, coupled with August’s job gain of only 22,000, indicates a larger economic issue, potentially leading to a significant rate cut by the Federal Reserve Board.

Terrazas highlighted that the labor market was already sputtering late last year, hinting at a bigger problem than just a post-tariff slump. This could warrant a substantial rate cut by the Federal Reserve Board at their upcoming meeting.

Read more at Yahoo Finance: Transportation/warehousing jobs up slightly in BLS model revision