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View Diary: Gain in payroll jobs higher than expected. Unemployment rate falls to 7.5%. Revisions soar. (77 comments)

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  •  about those revisions (3+ / 0-)
    Recommended by:
    Meteor Blades, ranger995, Eric Nelson

    Ever wonder why the numbers get revised a month or two later? Here's why (I think):

    As a business owner, I submit data to the BLS (Bureau of Labor Statistics every month. The deadline is the 26th of the month. They want data for the payroll that contained the 12th day of that month. Sometimes, the 12th is the first day of our two week payroll cycle. That means the pay period for that data cycle is not complete until the 24th of the month. Since payroll takes a couple of days, sometimes I don't have numbers to submit until the 27th or 28th. Also, the BLS is not on the front burner for me. I have a business to run. There is no penalty for a late submission. If I get them the data on the first or second of the following month, it goes into the revised report.

    i just baptized andrew breitbart into the church of islam, planned parenthood, the girl scouts and three teachers unions. - @blainecapatch

    by bobinson on Fri May 03, 2013 at 08:24:55 AM PDT

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