The Globe and Mail reports in its Thursday, Aug. 22, edition that the U.S. economy added significantly fewer jobs in 2023 and early 2024 than previously reported. A New York Times dispatch to The Globe reports that monthly payroll figures have overestimated job growth by about 818,000 over the 12 months ending in March. This suggests that employers added about 174,000 jobs per month during that period, as opposed to the previously reported pace of about 242,000 jobs. These preliminary revisions are part of an annual process in which monthly estimates are reconciled with more accurate but less timely records from state unemployment offices. The updated figures will be incorporated into official government employment statistics early next year. These revised numbers are the latest indication of vulnerabilities in the job market, despite appearing stable for some time. More recent data, unaffected by the revisions, suggest that job growth slowed further in the spring and summer, and the unemployment rate, while still relatively low at 4.3 per cent, has been gradually rising. Federal Reserve officials are closely monitoring these signs of weakening as they consider when and how much to begin lowering interest rates.