"Inflated" Employment Estimates Were Actually The Best Estimates On Record
investigativeeconomics.substack.com
A Philadelphia Federal Reserve report in December detailed how the Bureau of Labor Statistics’ (BLS) Current Employment Statistics (CES) survey had overestimated total U.S. employment in a period in 2021 by about a million jobs. Instead of a growth in a million jobs, the BLS’ Quarterly Census of Employment and Wages (QCEW) survey showed a less than stellar growth in employment—only about 10,000 new jobs.
"Inflated" Employment Estimates Were Actually The Best Estimates On Record
"Inflated" Employment Estimates Were Actually…
"Inflated" Employment Estimates Were Actually The Best Estimates On Record
A Philadelphia Federal Reserve report in December detailed how the Bureau of Labor Statistics’ (BLS) Current Employment Statistics (CES) survey had overestimated total U.S. employment in a period in 2021 by about a million jobs. Instead of a growth in a million jobs, the BLS’ Quarterly Census of Employment and Wages (QCEW) survey showed a less than stellar growth in employment—only about 10,000 new jobs.