HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » U.S. created 501,000 fewe... » Reply #56

Response to mr_lebowski (Reply #54)

Wed Aug 21, 2019, 06:43 PM

56. I don't know if it's correct, but that's how I see it too ...

I guess for this one, they focused on getting a more comprehensive and accurate total non-farm payroll employment count for the month of March.

I've never studied this benchmark revision stuff before -- I've been aware of it, and know that a year's worth of numbers at https://data.bls.gov/timeseries/CES0000000001
changes and they make an announcement that I see when I read the report each Februrary ...

The final benchmark revision will be issued in February 2020 with the publication of the January 2020 Employment Situation news release.


The January 2020 Employment Situation news release comes out the first Friday of February (well usually but not always the first Friday).

Here is the one from early February of 2019 published with the January 2019 Employment Situation that I downloaded when it came out -- http://www.bls.gov/news.release/pdf/empsit.pdf

Unfortunately that URL is the latest release, in this case the July 2019 situation released Aug 2. I don't know how to find the older releases. The only reason I have the January 2019 Employment Situation is because I downloaded and saved it at the time.

Anyhoo, here it is:

Revisions to Establishment Survey Data

In accordance with annual practice, the establishment survey data released today have been
benchmarked to reflect comprehensive counts of payroll jobs for March 2018. These counts are derived
principally from the Quarterly Census of Employment and Wages (QCEW), which counts jobs covered
by the Unemployment Insurance (UI) tax system. The benchmark process results in revisions to not
seasonally adjusted data from April 2017 forward. Seasonally adjusted data from January 2014 forward
are subject to revision. In addition, data for some series prior to 2014, both seasonally adjusted and
unadjusted, incorporate other revisions.

The total nonfarm employment level for March 2018 was revised downward by 1,000 (-16,000 on a not
seasonally adjusted basis, or less than -0.05 percent). The absolute average benchmark revision over the
past 10 years is 0.2 percent.

The effect of these revisions on the underlying trend in nonfarm payroll employment was minor. For
example, the over-the-year change in total nonfarm employment for 2018 was revised from +2,638,000
to +2,674,000 (seasonally adjusted). Table A presents revised total nonfarm employment data on a
seasonally adjusted basis from January to December 2018.

All revised historical establishment survey data are available on the BLS website at
www.bls.gov/ces/data.htm. In addition, an article that discusses the benchmark and post-benchmark
revisions and other technical issues is available at www.bls.gov/web/empsit/cesbmart.htm.

Table A. Revisions to total nonfarm employment, January to December 2018, seasonally adjusted
(Numbers in thousands)


And then it has for each month of 2018, January, February, ... , December:

Level as previously published
Level as revised
Difference

Over the month change as previously published
Over the month change as revised
Difference

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 58 replies Author Time Post
UpInArms Aug 2019 OP
Mike 03 Aug 2019 #1
TheRealNorth Aug 2019 #6
Cryptoad Aug 2019 #40
FakeNoose Aug 2019 #46
democratisphere Aug 2019 #2
sandensea Aug 2019 #31
Peregrine Took Aug 2019 #36
mahatmakanejeeves Aug 2019 #38
CloudWatcher Aug 2019 #41
mahatmakanejeeves Aug 2019 #42
CloudWatcher Aug 2019 #49
onenote Aug 2019 #52
ProudMNDemocrat Aug 2019 #3
durablend Aug 2019 #13
DBoon Aug 2019 #45
Hugin Aug 2019 #4
machoneman Aug 2019 #5
lapfog_1 Aug 2019 #7
SweetieD Aug 2019 #8
Meadowoak Aug 2019 #9
Javaman Aug 2019 #10
bucolic_frolic Aug 2019 #11
ffr Aug 2019 #12
Freethinker65 Aug 2019 #14
mr_lebowski Aug 2019 #51
NickB79 Aug 2019 #53
mr_lebowski Aug 2019 #55
cstanleytech Aug 2019 #15
Clarity2 Aug 2019 #16
global1 Aug 2019 #17
Judi Lynn Aug 2019 #18
DrToast Aug 2019 #19
progree Aug 2019 #20
DrToast Aug 2019 #23
qazplm135 Aug 2019 #34
wolfie001 Aug 2019 #21
progree Aug 2019 #22
Wellstone ruled Aug 2019 #24
progree Aug 2019 #25
herding cats Aug 2019 #37
progree Aug 2019 #48
mr_lebowski Aug 2019 #54
LineLineLineNew Reply I don't know if it's correct, but that's how I see it too ...
progree Aug 2019 #56
slumcamper Aug 2019 #26
Scruffy1 Aug 2019 #27
exboyfil Aug 2019 #28
IronLionZion Aug 2019 #29
mahatmakanejeeves Aug 2019 #30
progree Aug 2019 #33
MarkmBha1 Aug 2019 #32
mahatmakanejeeves Aug 2019 #35
area51 Aug 2019 #39
NoMoreRepugs Aug 2019 #43
duforsure Aug 2019 #44
wiggs Aug 2019 #47
Bengus81 Aug 2019 #50
AKing Aug 2019 #57
Nitram Aug 2019 #58
Please login to view edit histories.