Revised Job Data Show U.S. Labor Market Weaker Than Previously Reported

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• 00:03

  An Israeli attack on Hamas leadership in Qatar creates a challenge to peace negotiations in the Middle East.

• 00:09

  Arab mediators think that this is unfortunately the end of diplomacy you wrote for them.

• 00:15

  If Doha suspend the talks,

• 00:16

  which other country would feel more comfortable having Hamas leaders showing up and having talks

• 00:21

  if they know that the possibility of an attack is right there and it's real?

• 00:26

  Plus,

• 00:26

  a revised jobs report shows a significantly weaker picture of the US labor market than earlier reports indicated.

• 00:33

  And inflation erased US income gains last year, but it didn't affect everyone equally.

• 00:39

  It's Tuesday, September 9th.

• 00:41

  I'm Alex Osela for the Wall Street Journal.

• 00:43

  This is the PM edition of What's News,

• 00:46

  the top headlines and business stories that move the world today.

• 00:55

  We begin this evening with the U.S. labor market.

• 00:58

  The pace of job growth was likely significantly weaker than reported from early 2024 through early this year.

• 01:05

  The Bureau of Labor Statistics said today that the U.S. added 911,000 fewer jobs over the 12 months that ended in March,

• 01:12

  trimming by a bit more than half the 1.79 million jobs the official data now show.

• 01:18

  For more, I'm joined now by WSJ Economics reporter, Justin Layhart.

• 01:22

  Justin, is this a typical amount for a revision?

• 01:25

  It seems kind of big.

• 01:27

  Yeah, it's very big.

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