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March Means Employment Data Revisions

On March 13th, the Bureau of Labor Statistics released the latest state and local employment data. Initial estimates showed that St. Louis added 38,300 jobs in 2016, but the revised data show that St. Louis actually added 17,100 jobs. Similarly, last year BLS revisions to St. Louis employment data added 6,800 jobs. Why? Charles Gascon of FRED Blog found the answer. These revisions occur because counting new jobs is a complicated process that relies on samples and advanced statistical techniques. Every March the BLS reconciles the monthly Current Employment Statistics (CES) survey with the Quarterly Census of Employment and Wages (QCEW), which can result in significant revisions, as demonstrated in St. Louis. For more information on how local employment data is revised, click here.

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