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US DATA: Preliminary Benchmark Revisions Still Not Released

US DATA
  • Still nothing official on the benchmark revision figure, which Bloomberg now reports has been delayed.
  • Looking at the underlying QCEW data that have been published, the Y/Y change to Mar’24 would very roughly imply in the region of -915k or -76k per month as the ~2m jobs added for QCEW is vs 2.9m for NSA payrolls over the twelve months to Mar 2024.
  • Note though that we haven’t been able to confirm whether there have been revisions to Mar 2023 as the website is down.
  • We advise being very careful interpreting these numbers.

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