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February 8, 2023

Payroll data for the month of January featured noteworthy statistical assumptions and seasonal adjustments.

The net one-month change in nonfarm payrolls, as reported by the Establishment Survey, was 517,000. The Household Survey reported an additional 894,000 jobs. Both releases featured their own set of statistical assumptions that should be considered when reviewing the data. Source: Bureau of Labor Statistics.  When it comes to payroll updates, there are three data...
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