Expansion to an end

Revisions show job losses in June, bringing historic expansion to an end

From CNN's Alicia Wallace

Friday’s jobs report marked the end of what was the second longest-ever period of employment expansion for the US on record.

In addition to the lower-than-expected 22,000 preliminary net payroll gain for August, the report included a downward revision to June, bringing that month’s already weak tally from a 14,000 net gain to a 13,000 net loss.

It’s the first negative employment month since December 2020, and it ends the second-longest period of employment expansion on record for the United States, BLS data shows.

Following the latest revisions, the US added jobs for 52 consecutive months, putting this recent period a far second to the post-Great Recession expansion from late-2010 to early 2020, when the US added jobs for 113 months in a row.