The Bureau of Labor Statistics’ preliminary annual benchmark revision released on August 28, 2026, reduced total nonfarm payroll employment for the year through March 2026 by 79,000 jobs, or 0.1%, while private employment was cut by 178,000, also 0.1%. The result was roughly 262,000 jobs below a Bloomberg survey forecast for an upward revision of about 183,000 and followed a prior year’s downward adjustment of roughly 911,000 jobs. The revision showed retail and manufacturing weaker than initially estimated, while construction and transportation performed better, reducing average monthly job growth for the covered period to approximately 11,000-16,000 jobs from roughly 17,600-23,000. The update followed a July report showing payrolls fell by 23,000 against an 80,000 increase forecast, although unemployment edged down to 4.1% from 4.2% and private employers added 30,000 jobs as government employment dropped 53,000. The Federal Reserve kept rates at 3.50%-3.75% in a split July vote, with inflation and growth concerns divided among officials. The final benchmark, incorporating complete Quarterly Census of Employment and Wages data, is scheduled for February 2027, while the August employment report is due September 4.