Wednesday, January 10, 2024

Why are jobs reports constantly corrected after initial reporting?

Article Title: Initial US employment reports overstated by 439,000 jobs in 2023
Snippet of Article: "There’s something wrong with previous U.S. jobs reports. The government quietly erased 439,000 jobs through November 2023...By his calculations, he says the downward revisions came to “an epic 443,000,” adding, “more than 40% of payroll growth in 2023” came from “the fairy tale ‘Birth-Death’ model” the BLS uses to “guesstimate” its jobs reports...."


Source: nypost.com

[tag] U.S. jobs reports, BLS uses “guesstimate” for its jobs reports, ‘Birth-Death’ model (BLS), [/tag]