Payroll Numbers Revised

by: Casey Mulligan

It appears that payroll employment for March 2009 and subsequent months will be revised down by about 800,000 ( offers a detailed but user-friendly explanation here).

That will bring the household survey and establishment survey in closer agreement in terms of percentage job loss through March 2009, although we'll see what the 2011 revision tells us about the rest of 2009. In the meantime, the household survey should get more attention (as I advised here).