More Bad US Unemployment News Spurs Dimon Warning

The US economy has been worse for American workers than previously thought, according to new data from the federal government. Revised numbers show job growth has been far less robust than reported earlier, the latest in more than a week of almost-daily reports showing the nation’s economic stamina wavering.

The number of workers on payrolls will likely be revised down by 911,000 for the 12 months through March—or almost 76,000 less each month on average—according to the Bureau of Labor Statistics’ preliminary benchmark revision out Tuesday. “The economy is weakening,” JPMorgan Chief Executive Officer Jamie Dimon said on CNBC. “Whether that is on the way to recession or just weakening, I don’t know.”