Revise quote in the Job Report 2020

Aug 6th, 2022
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How to revise quote in the Job Report 2020

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all right now lets get over to our very own brian chung for a deeper look into the jobs report brian hey brian yeah well we did get the headline number 467 000 non-farm payroll ads in the month of january that was a big surprise from some who even expected a negative print because of the impact of the omicron variant unemployment clocking in at four percent uh basically unchanged from the 3.9 percent we had seen in the month prior and then wage growth coming in at 5.7 on a year over year basis but uh obviously a lot of interest in just the revisions that were made to previous months as well i want to highlight that there were two major adjustments that were made up first they benchmark against data as an update to the quarterly account that they get on the unemployment insurance tax system this is a way that the bls can make sure that their data lines up with figuring out when people are leaving or entering the workplace based off of their ui filings as well as just regular seasonal f

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In February 2020, total U.S. nonfarm payroll employment rose by 273,000 to 152.5 million. In the private sector, employment in goods-producing industries increased 61,000, while service-providing industries employment grew by 167,000. Government employment increased by 45,000.
The U.S. economy added 216,000 jobs in December, signaling a still strong labor market.
The BLS reports that 661,000 jobs were added in September less than half of August job growth and employment was down by 10.7 million jobs compared to February.
Overall, our analysis suggests that 69 million jobs will be created and 83 million jobs destroyed, leading to a contraction of global labour markets of 14 million jobs in the next five years at the present rate of change, though this figure is subject to a high degree of uncertainty as it is not holistic.
By the Numbers: U.S. Economy Adds Over 350,000 Jobs in January Exceeding Expectations. Kicking off 2024, the U.S. Labor Departments Bureau of Labor Statistics reported last week that the U.S. economy added over 350,000 jobs in January far exceeding expectations.
The composition of hiring was broad based in December, in contrast with the past few months, featuring a 164,000 net increase in private sector employment. Those gains were driven by 74,000 new jobs in education and healthcare, 40,000 in leisure and hospitality, and 52,000 in government hiring.
The report consists of the household survey, which is used to estimate the unemployment rate, and the establishment survey providing data on payrolls, hours worked, and earnings.
Total nonfarm payroll employment declined by 140,000 in December 2020, following seven consecutive months of increases. In December, nonfarm employment was below its February level by 9.8 million, or 6.5 percent.

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