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5 Feb 2016
Five years of revisions to payrolls - Deutsche Bank
FXStreet (Guatemala) - Analysts at Deutsche Bank explained that today’s employment report will also incorporate five years’ worth of revisions to payrolls, wages and hourly earnings. This is a standard annual practice.
Key Quotes:
"The BLS announced last September that its preliminary findings pointed to a 255k downward revision to the level of private payrolls as of March 2015. Investors should also be reminded of the new population survey, which is used to compile the Household Survey."
"This means that the level of January Household employment cannot be directly compared to the level of December Household employment.
Rather, market participants need to look at the population- adjusted sample within the Household Survey when interpreting the details underlying the unemployment rate, which we expect to remain steady for the fourth consecutive month."
Key Quotes:
"The BLS announced last September that its preliminary findings pointed to a 255k downward revision to the level of private payrolls as of March 2015. Investors should also be reminded of the new population survey, which is used to compile the Household Survey."
"This means that the level of January Household employment cannot be directly compared to the level of December Household employment.
Rather, market participants need to look at the population- adjusted sample within the Household Survey when interpreting the details underlying the unemployment rate, which we expect to remain steady for the fourth consecutive month."