Your Daily US Economy Briefing

BLS Preliminary Benchmark Revision Shows Modest Downward Adjustment to Payroll Employment

• The U.S. Bureau of Labor Statistics (BLS) released a preliminary annual benchmark revision on August 28, 2026, indicating that payroll employment for March 2026 was 79,000 jobs lower than previously estimated on a nonseasonally adjusted basis, a reduction of 0.1%. This suggests a slightly weaker pace of job creation over the 12 months leading up to March 2026, with private employment seeing a larger downward revision of 178,000 jobs. This revision is notably smaller than the "massive revisions" that have been common since the COVID-19 pandemic, suggesting a return to more typical adjustment levels.

  Bls GovWtvbamThedailystar

• Federal Reserve Chairman Kevin Warsh reiterated the central bank's 2% inflation target at the Jackson Hole Economic Symposium last Friday, emphasizing that elevated prices remain the primary focus despite inflation cooling from 2022 highs. This comes as the Personal Consumption Expenditures (PCE) price index measured 3.7% in July, marking the 65th consecutive month it has exceeded the Fed's target, largely driven by the Iran war's impact on energy prices and President Trump's tariffs.

  AjgNepmFool

• U.S. consumer confidence experienced a slight decline in August, falling by 0.8 points to 89.4 from 90.2 in July, according to The Conference Board. This moderation was primarily due to a more pessimistic outlook on future business and labor market conditions, despite an improved assessment of the current economic situation.

  NamConference BoardCourthousenews