by Calculated Risk on 12/05/2017 03:41:00 PM
Tuesday, December 05, 2017
November Employment Revisions
Every month, prior to writing my employment preview, I like to look at revisions for that month in prior years.
Here is a table of revisions for November since 2005. Note that most of the revisions have been up. This doesn't mean that the November 2017 revision will be up, but it does seem likely. Although, in recent years, the revisions have been more evenly split between up and down.
The fairly large upward revision in 2005 was related to the hurricanes that year.
November Employment Report (000s) | |||
---|---|---|---|
Year | Initial | Revised | Revision |
2005 | 215 | 341 | 126 |
2006 | 132 | 209 | 77 |
2007 | 94 | 114 | 20 |
2008 | -533 | -766 | -233 |
2009 | -11 | -2 | 9 |
2010 | 39 | 119 | 80 |
2011 | 120 | 141 | 21 |
2012 | 146 | 132 | -14 |
2013 | 203 | 258 | 55 |
2014 | 321 | 312 | -9 |
2015 | 211 | 272 | 61 |
2016 | 178 | 164 | -14 |
Note: In 2008, the BLS significantly under reported job losses. That wasn't surprising since the initial models the BLS used missed turning points (something I wrote about in 2007). The BLS has since improved this model.