Jobs: U.S. employment is 501,000 lower than believed after revisions

Jobs: U.S. employment is 501,000 lower than believed after revisions

Employment in several industries was revised down especially sharply. Payrolls dropped 175,000 in leisure and hospitality, and 146,000 in retail – two bellwether service sectors that depend heavily on consumer spending, the economy’s main engine.

Employment also fell by 163,000 in professional and business services and 69,000 in education and health services.

via usatoday Jobs: U.S. employment is 501,000 lower than believed after revisions