With its March release of state and local employment data, the Bureau of Labor Statistics (BLS) provided a benchmark revision to monthly nonfarm payroll employment data released over the past 18 months. The four largest metropolitan areas in the Eighth Federal Reserve District saw total employment revised downward between 2,500 and 5,100 jobs. Overall growth rates for 2018 were revised downward in the Little Rock, Louisville, and St. Louis metro areas. While downward revisions were made to the level of employment in Memphis, the growth rate was actually revised upward, as revisions to the level were larger in the second half of 2017 compared with 2018.
The table below summarizes the data revisions and includes links to the respective series in ALFRED:
2018 Payroll Employment Growth
|Metropolitan Area||Initial Estimate||Revised Estimate||Total Employment Revision|