{"id":1252,"date":"2025-02-06T10:15:14","date_gmt":"2025-02-06T15:15:14","guid":{"rendered":"https:\/\/sharewatch.com\/wp\/2025\/02\/06\/fridays-jobs-report-will-be-confusing-heres-how-to-make-sense-of-it\/"},"modified":"2025-02-06T10:15:14","modified_gmt":"2025-02-06T15:15:14","slug":"fridays-jobs-report-will-be-confusing-heres-how-to-make-sense-of-it","status":"publish","type":"post","link":"https:\/\/sharewatch.com\/wp\/2025\/02\/06\/fridays-jobs-report-will-be-confusing-heres-how-to-make-sense-of-it\/","title":{"rendered":"Friday\u2019s Jobs Report Will Be Confusing. Here\u2019s How to Make Sense of It."},"content":{"rendered":"<div class=\"css-s99gbd StoryBodyCompanionColumn\" data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">The Labor Department\u2019s latest monthly report on hiring and unemployment will include revisions for previous months that should give a more accurate picture of the U.S. job market \u2014 but that could also sow confusion.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">When the data is released on Friday, one major measure of employment will be revised up. Another will be revised down. Some historical numbers will be revised, but others won\u2019t. And the updates, though part of a routine process, will be taking place in a political environment where both sides have at times expressed skepticism of government economic statistics.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cThere is going to be a massive amount of confusion,\u201d said Wendy Edelberg, director of the Hamilton Project, an economic policy arm of the Brookings Institution.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Here is what economists say you will need to know about the revisions to make sense of the numbers.<\/p>\n<h2 class=\"css-13o6u42 eoo0vm40\" id=\"link-3f1fb20a\">The revisions are part of a longstanding annual process.<\/h2>\n<p class=\"css-at9mc1 evys1bk0\">The monthly job figures are based on two surveys, one of employers and one of households. Those surveys are generally reliable \u2014 they involve a number of interviews far larger than a presidential election poll, for example \u2014 but they aren\u2019t perfect. And so, once a year, the government reconciles the numbers with less timely but more reliable data from other sources. Similar processes are in place for revising other government statistics, like gross domestic product and personal income.<\/p>\n<\/div>\n<\/aside>\n<\/div>\n<div class=\"css-s99gbd StoryBodyCompanionColumn\" data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">\u201cRevisions are how statistical agencies achieve both timeliness and accuracy,\u201d said Jed Kolko, who oversaw economic statistics at the Commerce Department during the Biden administration. \u201cNear-real-time data like the jobs report later get revised to match other data sources that are more accurate but take longer to collect and publish.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The revisions being released on Friday were scheduled far in advance and will use methodologies that were announced ahead of time, allowing economists, including Mr. Kolko and Ms. Edelberg, to publish detailed forecasts of what the new figures will show.<\/p>\n<div class=\"css-1336jj\">\n<div class=\"css-121kum4\">\n<div class=\"css-171quhb\"><\/div>\n<div class=\"css-asuuk5\"><noscript><\/p>\n<div class=\"css-7axq9l\" data-testid=\"optimistic-truncator-noscript\"><svg width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" aria-hidden=\"true\" class=\"css-1b5b8u1\"><path fill=\"currentColor\" fill-rule=\"evenodd\" d=\"M2.5 12a9.5 9.5 0 1 1 19 0 9.5 9.5 0 0 1-19 0Zm8.5 1.75v-7.5h2v7.5h-2Zm0 2v2h2v-2h-2Z\" clip-rule=\"evenodd\"><\/path><\/svg><\/p>\n<div data-testid=\"optimistic-truncator-noscript-message\" class=\"css-6yo1no\">\n<p class=\"css-3kpklk\">We are having trouble retrieving the article content.<\/p>\n<p class=\"css-3kpklk\">Please enable JavaScript in your browser settings.<\/p>\n<\/div>\n<\/div>\n<p><\/noscript><\/p>\n<div class=\"css-1dv1kvn\" id=\"optimistic-truncator-a11y\" tabindex=\"-1\">\n<hr\/>\n<p>Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.<\/p>\n<hr\/>\n<\/div>\n<div class=\"css-1g71tqy\"><svg width=\"24\" height=\"24\" viewbox=\"0 0 24 24\" aria-hidden=\"true\" class=\"css-63woee\" data-testid=\"optimistic-truncator-spinner\"><g fill=\"currentColor\"><path d=\"M11.28 22.8a.72.72 0 1 0 1.44 0v-6.72a.72.72 0 1 0-1.44 0v6.72Z\" opacity=\".37\"><\/path><path d=\"M17.766 21.16a.72.72 0 1 0 1.165-.846l-3.95-5.436a.72.72 0 1 0-1.165.846l3.95 5.437Z\" opacity=\".26\"><\/path><path d=\"M1.506 14.653a.72.72 0 0 0 .445 1.37l6.391-2.078a.72.72 0 1 0-.445-1.369l-6.39 2.077Z\" opacity=\".61\"><\/path><path d=\"M5.07 20.314a.72.72 0 0 0 1.164.847l3.95-5.437a.72.72 0 1 0-1.165-.846l-3.95 5.436Z\" opacity=\".48\"><\/path><path d=\"M22.049 16.022a.72.72 0 0 0 .445-1.37l-6.391-2.076a.72.72 0 1 0-.445 1.37l6.39 2.076Z\" opacity=\".17\"><\/path><path d=\"M22.494 9.347a.72.72 0 1 0-.445-1.37l-6.391 2.078a.72.72 0 1 0 .445 1.369l6.39-2.077Z\" opacity=\".09\"><\/path><path d=\"M6.234 2.84a.72.72 0 0 0-1.165.846l3.95 5.436a.72.72 0 0 0 1.165-.846l-3.95-5.437Z\" opacity=\".87\"><\/path><path d=\"M1.951 7.978a.72.72 0 1 0-.445 1.37l6.391 2.076a.72.72 0 1 0 .445-1.37l-6.39-2.076Z\" opacity=\".74\"><\/path><path d=\"M18.93 3.686a.72.72 0 0 0-1.164-.847l-3.95 5.437a.72.72 0 0 0 1.165.846l3.95-5.436Z\" opacity=\".02\"><\/path><path d=\"M12.72 1.2a.72.72 0 1 0-1.44 0v6.72a.72.72 0 0 0 1.44 0V1.2Z\"><\/path><\/g><\/svg><\/p>\n<div data-testid=\"optimistic-truncator-message\" class=\"css-6yo1no\">\n<p class=\"css-3kpklk\">Thank you for your patience while we verify access.<\/p>\n<p class=\"css-3kpklk\">Already a subscriber?\u00a0Log in.<\/p>\n<p class=\"css-3kpklk\">Want all of The Times?\u00a0Subscribe.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Labor Department\u2019s latest monthly report on hiring and unemployment will include revisions for previous months that should give a more accurate picture of the U.S. job market \u2014 but that could also sow confusion. When the data is released on Friday, one major measure of employment will be revised up. Another will be revised [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[19,21],"tags":[],"class_list":["post-1252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-market","entry","has-media"],"_links":{"self":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/1252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/comments?post=1252"}],"version-history":[{"count":0,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/posts\/1252\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media\/1253"}],"wp:attachment":[{"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/media?parent=1252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/categories?post=1252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharewatch.com\/wp\/wp-json\/wp\/v2\/tags?post=1252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}