Tuesday, January 10, 2012

Revisions to Seasonally Adjusted Household Survey Data

At the end of every calendar year, BLS makes routine revisions to the seasonally adjusted data in the Current Population Survey (CPS), which includes the national unemployment rate. The revisions include all additional information to identify if changes in the data are one-time or seasonal temporary blips as opposed to permanent changes in the numbers. These changes are usually minor and don’t drastically change labor market trends. With this month’s release of the employment situation, BLS made that same set of routine revisions, and as expected, the changes to 2011 data were minor.

More HERE.

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