|By BINYAMIN APPELBAUM|
The government's estimates of job creation are not particularly accurate, a point that is often made and often ignored. On Thursday morning, the
The agency, which issues a much-discussed monthly estimate, also issues regular revisions of those estimates, which regularly receive much less attention. One of the most important revisions uses state unemployment insurance tax records – records filed by nearly all employers, which include actual counts of the numbers of people they employ — to check the accuracy of a full year of its monthly estimates.
In that revision, published Thursday, the agency concluded that an additional 386,000 jobs were created during the 12-month period, a 20 percent jump over its previous estimate that employment increased by about 1.94 million jobs. The revision is preliminary; a final version will not be published until February.
The new numbers would increase the monthly pace of job creation during that period to about 194,000 a month, up from a pace of 162,000 jobs a month.
The agency still estimates that job growth has since slowed to a pace of 87,000 jobs a month over the last five months. Those data won't be revised until next September.
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|Source:||New York Times Digital|