Wikinvest Wire

Revisions to nonfarm payrolls

Friday, February 05, 2010

Here's what you get when you take the last four years of nonfarm payrolls data as it existed last month at the Labor Department and compare it to the data as it exists in the news release today, after the annual benchmark revisions and updates to seasonal adjustment factors.
IMAGE Since January of 2005, payrolls have been revised lower by another 961,000 after further declines of 545,000 in 2008 and 617,000 in 2009, the bulk of which were adjustments to the birth-death model spanning the 12 months ending in April of 2009.

During 2005 and 2006, the data was revised upward by a total of 153,000 due exclusively to changes in the way that seasonal adjustments are made.

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