U.S. job growth sees significant downward revision of 911,000 payrolls for the year through March 2025, reducing average monthly job growth by 76,000 positions. Initial data showed 1.8 million jobs added, but revised data paints a slower employment growth picture, possibly leading to Federal Reserve interest rate cuts. Fed Chair Jerome Powell acknowledges job market risks, with two policymakers pushing for rate cuts in July. Traders now anticipate rate cuts at the Sept. 17 meeting, as benchmark revisions draw increased attention amid concerns over labor market softening. President Donald Trump has criticized federal jobs data revisions.

Read more at QuiverQuant: U.S. Payrolls Revised Down by 911,000, Adding Pressure on Fed to Cut Rates