Employment: Preliminary annual benchmark revision shows downward adjustment of 173,000 jobs

Note: This is mostly before the sharp decline in employment due to COVID. The BLS released the preliminary annual benchmark revision showing 173,000 fewer payroll jobs as of March 2020. The final revision will be published when the January 2021 employment report is released in February 2021. Usually the preliminary estimate is pretty close to the final benchmark estimate. The annual revision is benchmarked to state tax records. From the BLS: In accordance with usual practice, the Bureau of Labor Statistics (BLS) is announcing the preliminary estimate of the upcoming annual benchmark revision......(read more)

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