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Mish Talk - Global Economic Trend Analysis

Mish Talk - Global Economic Trend Analysis

Business

Business & Economics

Huge BLS Benchmark Revisions Remove 610,000 Jobs From 2024

Mish Talk - Global Economic Trend Analysis
Summary
Nutrition label

82% Informative

Every February the BLS does annual benchmark revisions for the prior year .

This year there were huge revisions.

I will do my regular jobs report next, but first we need to discuss benchmark revisions.

In accordance with “normal practice” none of this will show up on historical charts.

The official household survey estimates will not be revised, BLS will produce experimental time series back to April 2020 for the total labor force and total employed that account for the January2025 population control effects.

Population controls for veterans have also been updated with the release of data for January 2025 .

Historical data have not been revised.

VR Score

90

Informative language

95

Neutral language

7

Article tone

formal

Language

English

Language complexity

59

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

medium-lived

Source diversity

1

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