(CNN) — The American jobs market has been running in a much lower gear than previously thought, according to a preliminary report released Tuesday.

The US economy added about 911,000 fewer jobs than initially estimated for the year ending in March, the Bureau of Labor Statistics report suggests. If this were to hold – the final annual benchmark revision will be reported in February 2026 – it would be the largest annual revision to US jobs data on record.

Recent employment data, including the August jobs report , show a US economy with job growth that’s stalling out.

“Overall, this shows that the jobs market is in an even more precarious position than we thought,” Sarah House, senior economist with Wells Fargo, told CNN in an interview. “This doesn’t tell us anything explicitly abou

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