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Preliminary data released in August indicated that employers added about 25,000 fewer jobs per thirty days in late 2022 and early 2023 than initially believed. That wouldn’t be sufficient to change the fundamental image of a labor market that is gradually slowing however proving surprisingly resilient. The Labor Department on Friday will revise its estimate of job development in 2022 and 2023, part of an annual process in which month-to-month estimates are reconciled with knowledge collected by state agencies that’s more correct however much less timely. The central bank’s policy fee is now set at 5.25 to five.5 %, a degree high enough that economists assume it’ll cool the economic system as it trickles by way of financial markets and weighs on mortgage, credit card and business borrowing. The payroll estimates that the Labor Department releases every month — including the surprisingly sturdy January report on Friday morning — are based mostly on a survey of about 122,000 employers.