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Was the Real Jobs Revision Negative 818,000 or Negative 915,000?
I calculated -915,000. Every headline said -818,000. I finally gave up and posted 818,000 but noted a discrepancy. I believe it’s 915,000.
benchmark revision estimate than just QCEW and we are still waiting for the BLS to update its page summarizing this estimate, but the QCEW is out and it shows not seasonally adjusted employment in the 12-months through March 2024 at 2.042 million versus NSA payrolls at 2.957 million (i.e., 915K lower) Bloomberg or whoever was first in reporting 818,000 made a bad calculation using a mix of seasonally-adjusted and unadjusted numbers. The Congressional Budget Office is making calculations based off incredibly bad sets of numbers.
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