The BLS revises it's numbers on a standard schedule. The final revision of this number will be in 6 months.
The claim they are doing this because they were about to be "exposed" out doesn't hold up.
A. They always revise.
B. The folks doing the "exposing" are the BLS themselves.
C. This is on schedule
Today's release was announced in July.
Last year's preliminary benchmark revision was August 23. This is standard.
https://www.bls.gov/ces/notices/2024/2024-preliminary-benchmark-revision-release-date.htm
CES
2024 Preliminary Benchmark Revision to Establishment Survey Data to be released on August 21, 2024
Each year, the establishment survey estimates are benchmarked to comprehensive counts of employment from the Quarterly Census of Employment and Wages (QCEW) for the month of March. These counts are derived from state unemployment insurance (UI) tax records that nearly all employers are required to file. At 10:00 a.m. ET on August 21, 2024, the Bureau of Labor Statistics (BLS) will release the preliminary estimate of the upcoming annual benchmark revision to the establishment survey data. This is the same day that the first-quarter 2024 data from QCEW will be issued.
Why now?
Because they're being made to do it early, otherwise the truth would come out in 6 months.
Looks like the number. Is -818K.
The timing is standard.
The BLS revises it's numbers on a standard schedule. The final revision of this number will be in 6 months.
The claim they are doing this because they were about to be "exposed" out doesn't hold up.
A. They always revise.
B. The folks doing the "exposing" are the BLS themselves.
C. This is on schedule
Today's release was announced in July. Last year's preliminary benchmark revision was August 23. This is standard.
https://www.bls.gov/ces/notices/2024/2024-preliminary-benchmark-revision-release-date.htm CES 2024 Preliminary Benchmark Revision to Establishment Survey Data to be released on August 21, 2024 Each year, the establishment survey estimates are benchmarked to comprehensive counts of employment from the Quarterly Census of Employment and Wages (QCEW) for the month of March. These counts are derived from state unemployment insurance (UI) tax records that nearly all employers are required to file. At 10:00 a.m. ET on August 21, 2024, the Bureau of Labor Statistics (BLS) will release the preliminary estimate of the upcoming annual benchmark revision to the establishment survey data. This is the same day that the first-quarter 2024 data from QCEW will be issued.
Why indeed??? 🤔