Re:Was the Real Jobs Revision Negative 818,000 or Negative 9...
by TradingPlaces on Wednesday August 21, 2024 @08:04PM
(#41315411)
The biggest issue is that the model for births/deaths of employers was wrong and over-estimating the number of employers. This accounted for about half the revision.
This also means that the other side of the Jobs Report, the household survey, or CPS, is undercounting employment by ~3 million, but that one never gets revised.
https://www.atlantafed.org/-/media/documents/research/public...
This also means that the other side of the Jobs Report, the household survey, or CPS, is undercounting employment by ~3 million, but that one never gets revised.