'Estimates by the Federal Reserve Bank of Philadelphia indicate that the employment changes from March through June
2022 were significantly different in 33 states and the District of Columbia compared with current state estimates from
the Bureau of Labor Statistics’ (BLS) Current Employment Statistics (CES). Early benchmark estimates indicated higher
changes in four states, lower changes in 29 states and the District of Columbia, and lesser changes in the remaining 17
states.
Our estimates incorporate more comprehensive, accurate job estimates released by the BLS as part of its
Quarterly Census of Employment and Wages (QCEW) program to augment the sample data from the BLS’s CES that
are issued monthly on a timely basis. All percentage change calculations are expressed as annualized rates. Read
more about our methodology. Learn more about interpreting our early benchmark estimates.
In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. CES estimated net growth
of 1,047,000 jobs for the period.
Payroll jobs in the nation remained essentially flat from March through June 2022 after adjusting for QCEW data:'
https://www.philadelphiafed.org/-/m...-revisions/early-benchmark-2022-q2-report.pdf
This is what others (and I) have been saying for months.
That the Establishment Survey numbers that the BLS has been releasing, are STAGGERINGLY wrong.
The 'Establishment Survey' (the one the press touts each month) is a joke.
The Household Survey (the one used to determine the unemployment rate) - though flawed - is a far better indicator of the US employment situation.
2022 were significantly different in 33 states and the District of Columbia compared with current state estimates from
the Bureau of Labor Statistics’ (BLS) Current Employment Statistics (CES). Early benchmark estimates indicated higher
changes in four states, lower changes in 29 states and the District of Columbia, and lesser changes in the remaining 17
states.
Our estimates incorporate more comprehensive, accurate job estimates released by the BLS as part of its
Quarterly Census of Employment and Wages (QCEW) program to augment the sample data from the BLS’s CES that
are issued monthly on a timely basis. All percentage change calculations are expressed as annualized rates. Read
more about our methodology. Learn more about interpreting our early benchmark estimates.
In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. CES estimated net growth
of 1,047,000 jobs for the period.
Payroll jobs in the nation remained essentially flat from March through June 2022 after adjusting for QCEW data:'
https://www.philadelphiafed.org/-/m...-revisions/early-benchmark-2022-q2-report.pdf
This is what others (and I) have been saying for months.
That the Establishment Survey numbers that the BLS has been releasing, are STAGGERINGLY wrong.
The 'Establishment Survey' (the one the press touts each month) is a joke.
The Household Survey (the one used to determine the unemployment rate) - though flawed - is a far better indicator of the US employment situation.
Last edited:
