Last week, the announcement of 500,000 fewer jobs made the headlines. Here is the Bureau of Labor Statistics (BLS) announcing their preliminary benchmark revision to the Payroll Survey (CES). https://www.bls.gov/web/empsit/cesprelbmk.htm
Their Table 1 lists the estimated revisions for each industry sector, with most of them showing a drop in the previously reported jobs level.
This revision comes from an examination by the BLS of the latest Quarterly Census of Employment and Wages (QCEW). The full results of that census for Q1 2019 were published today.
This will enable us to look at more detailed industry groups within the Payroll Survey and see likely benchmark revisions coming to the CES in January.
A very first look at a sector we are interested in shows that the Printing industry, although estimated by the Payroll Survey to have suffered a 2.7% decline in employment in the year to March 2019, saw a decline of only 1.6% in all employees covered by Unemployment Insurance.
If you have an interest in any particular industry, please get in touch, and we’ll see what we can do to provide a similar chart to the one below.
More insights planned.