Updated BLS figures show the labor market was meaningfully softer than originally reported, with a larger benchmark revision still to come. What the numbers actually sayMay’s nonfarm payroll gain was slashed from an initially reported 129,000 to just 63,000, a downward revision of 66,000 jobs. AdvertisementThe BLS attributed the adjustments to updated survey responses and recalculated seasonal factors, the standard accounting that happens as more complete data flows in after initial estimates. The BLS collects payroll data from a survey of employers and publishes a preliminary figure, then refines it twice in the following months as more responses arrive. Annual benchmarks are more comprehensive overhauls of the payroll data, cross-referenced against state unemployment insurance tax records that cover virtually every employer in the country.