The US government said on Tuesday that the economy likely added 911,000 fewer jobs in the 12 months ending in March than previously estimated. This revision suggests that job growth was already weakening before Trump imposed tariffs on imports. Economists had previously projected that the Bureau of Labor Statistics (BLS) would revise down its employment forecast for April 2024 to March 2025 by between 400,000 and 1 million jobs. The employment forecast for April 2023 to March 2024 had already been revised down by 598,000 jobs. This revision follows last Friday's report showing near-stagnant job growth in August and the first job loss in four and a half years in June. MyStonks Research Institute believes that the labor market is under pressure not only from trade policy uncertainty but also from the White House's tightening immigration policies, constraining labor supply. Furthermore, the accelerated adoption of artificial intelligence and automation by businesses has dampened demand for labor. Most economists believe the downward revision to the employment data will have a limited impact on monetary policy. The Federal Reserve is expected to resume cutting interest rates in the early hours of Thursday, September 19th (Beijing time), after pausing its easing cycle in January due to tariff uncertainty. MyStonks Research will continue to monitor the CPI data released on September 11th to further analyze the Fed's policy path.