U.S. non-farm payrolls revised down by 911,000, increasing pressure on the Federal Reserve to cut interest rates

ChainCatcher news, according to Jinshi reports, based on the preliminary results of the annual benchmark revision released by the U.S. government on Tuesday, the non-farm payrolls in the U.S. are expected to be revised down by 911,000 for the 12 months ending in March this year, which is equivalent to an average monthly decrease of nearly 76,000. The final data will be released early next year. This adjustment indicates that the recent slowdown in the labor market may lay the groundwork for the Federal Reserve to cut interest rates, and traders widely expect the Fed to announce a rate cut at the next meeting.