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Journal Article
Payroll employment data: measuring the effects of annual benchmark revisions
During the recovery from the 2001 recession, the business press and economic analysts used payroll employment data released monthly by the U.S. Bureau of Labor Statistics (BLS) as evidence of protracted weakness in the labor market. But using these monthly releases for this type of analysis can be premature and potentially misleading. The initial BLS releases can differ substantially from payroll employment data that are revised to incorporate information from less timely but more complete sources. ; This article highlights the historical revisions to the aggregate nonfarm payroll employment ...