How does the benchmark revision affect the employment data for months prior to the benchmark month?
Following standard BLS methodology, the March UI-based benchmark employment level replaces the March sample-based employment estimate, and then the difference between the benchmark level and the sample-based estimate is wedged back to the previous benchmark level. For example, the benchmark revision that was released in February 2007 replaced the March 2006 estimate with the benchmark level, increasing the employment level for that month by 752,000. To wedge this adjustment over the prior year, 1/12 of the difference was added to April 2005, 2/12s to May and so forth, through February 2006 which received 11/12s of the difference.
Related Questions
- Our department just hired an employee whose first day will not be for several months. Can we still complete an I-9 prior to the employee’s first day of paid employment?
- How does the benchmark revision affect the employment data for months subsequent to the benchmark month?
- How does the benchmark revision affect the employment data for months prior to the benchmark month?
