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). Average hourly earnings of production and non-supervisory private workers rose $0.06 to $20.39.
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