Nonfarm Payrolls +113,000, Median Bloomberg Estimate 180,000; Huge March 2013 Employment Revision
MishTalk
FEBRUARY 7, 2014
The benchmark revision incorporates a large non-economic change that resulted from a reclassification of 466,000 jobs from private households (out of scope by CES definition) to services for the elderly and disabled (in scope for CES). The household survey shows a gain of employment of 638,000. That said, revisions were in play.
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