12:36 PM EDT, 09/09/2025 (MT Newswires) -- The US Bureau of Labor Statistics said on Tuesday that nonfarm payrolls growth was 911,000 lower than previously reported for the year through March.

Total private employment growth was revised down by 880,000, with the biggest downgrade seen in the trade, transportation and utilities group, according to the BLS' preliminary revision to its annual data. Final revisions are due next February.

Leisure and hospitality, professional and business services and trade saw sharp downward revisions.

Tuesday's BLS report follows several downbeat labor market indicators that stoked fears about a slowdown in the labor market. On Friday, BLS showed total nonfarm payrolls rose by 22,000 last month, well below the 75,000 increase that Wall Street had expected.

Markets are currently pricing in an 92% probability that the Federal Open Market Committee will reduce its benchmark lending rate by a quarter percentage point on Sept. 17, with the remaining odds in favor of a 50-basis-point cut, according to the CME FedWatch tool.

"This (preliminary revision) was at the high end of a very wide range of analyst estimates," said Sal Guatieri, senior economist at BMO. "While the revision doesn't say much about what has happened since March, it suggests the labor market had less momentum heading into the trade war."

"The report failed to extend the recent rally in Treasury markets and likely won't spur the Fed to slice rates aggressively next week, but it should cement a (25-basis-point) trim, and could prod the FOMC to project a faster series of rate cuts than it expected in June."

US Treasury yields were higher intraday Tuesday, with the two-year rate gaining 4.9 basis point to 3.55% and the 10-year rate adding 3.6 basis points to 4.08%.

US President Donald Trump fired former BLS Commissioner Erika McEntarfer after the agency on Aug. 1 revised down employment gains for May and June.

The Trump administration is working on a report that would lay out alleged shortcomings of BLS jobs data, The Wall Street Journal reported Monday.