https://www.bloomberg.com/news/articles/2024-06-06/us-payroll-gains-not-as-robust-as-reported-new-data-suggest

Skip to content
Bloomberg the Company & Its ProductsThe Company & its Products
Bloomberg Terminal Demo RequestBloomberg Anywhere Remote Login
Bloomberg Anywhere LoginBloomberg Customer SupportCustomer Support

  * Bloomberg

    Connecting decision makers to a dynamic network of information,
    people and ideas, Bloomberg quickly and accurately delivers
    business and financial information, news and insight around the
    world

    For Customers

      + Bloomberg Anywhere Remote Login
      + Software Updates
      + Manage Products and Account Information

    Support

    Americas+1 212 318 2000

    EMEA+44 20 7330 7500

    Asia Pacific+65 6212 1000

  * Company

      + About
      + Careers
      + Diversity and Inclusion
      + Tech At Bloomberg
      + Philanthropy
      + Sustainability
      + Bloomberg London
      + Bloomberg Beta
      + Gender-Equality Index

    Communications

      + Press Announcements
      + Press Contacts

    Follow

      + Facebook
      + Instagram
      + LinkedIn
      + Twitter
      + YouTube
  * Products

      + Bloomberg Terminal
      + Data
      + Trading
      + Risk
      + Compliance
      + Indices

    Industry Products

      + Bloomberg Law
      + Bloomberg Tax
      + Bloomberg Government
      + BloombergNEF
  * Media

      + Bloomberg Markets
      + Bloomberg Technology
      + Bloomberg Pursuits
      + Bloomberg Politics
      + Bloomberg Opinion
      + Bloomberg Businessweek
      + Bloomberg Live Conferences
      + Bloomberg Radio
      + Bloomberg Television
      + News Bureaus

    Media Services

      + Bloomberg Media Distribution
      + Advertising

  * Company

      + About
      + Careers
      + Diversity and Inclusion
      + Tech At Bloomberg
      + Philanthropy
      + Sustainability
      + Bloomberg London
      + Bloomberg Beta
      + Gender-Equality Index

    Communications

      + Press Announcements
      + Press Contacts

    Follow

      + Facebook
      + Instagram
      + LinkedIn
      + Twitter
      + YouTube
  * Products

      + Bloomberg Terminal
      + Data
      + Trading
      + Risk
      + Compliance
      + Indices

    Industry Products

      + Bloomberg Law
      + Bloomberg Tax
      + Bloomberg Government
      + Bloomberg Environment
      + BloombergNEF
  * Media

      + Bloomberg Markets
      + Bloomberg
        Technology
      + Bloomberg Pursuits
      + Bloomberg Politics
      + Bloomberg Opinion
      + Bloomberg
        Businessweek
      + Bloomberg Live Conferences
      + Bloomberg Radio
      + Bloomberg Television
      + News Bureaus

    Media Services

      + Bloomberg Media Distribution
      + Advertising
  * Bloomberg

    Connecting decision makers to a dynamic network of information,
    people and ideas, Bloomberg quickly and accurately delivers
    business and financial information, news and insight around the
    world

    For Customers

      + Bloomberg Anywhere Remote Login
      + Software Updates
      + Manage Contracts and Orders

    Support

    Americas+1 212 318 2000

    EMEA+44 20 7330 7500

    Asia Pacific+65 6212 1000

 
Sign InSubscribe
Live TV
Markets
Economics
Industries
Tech
Politics
Businessweek
Opinion
More
US Edition
 
Subscribe

US Jobs Report:

April Payrolls ReportKey TakeawaysEmployed But UnhappyUnemployed
Americans Left Behind
BackForward
Economics

US Payroll Gains Not as Robust as Reported, BLS Data Suggest

  * Overestimate may have been 60,000 a month in 2023, QCEW shows
  * Job market is weaker than Fed thinks, Ironsides founder says

A job seeker attends a careers fair in Long Beach, California.

A job seeker attends a careers fair in Long Beach, California.

Photographer: Eric Thayer/Bloomberg
Gift this article
 
Have a confidential tip for our reporters? Get in Touch
 
Before it's here, it's on the Bloomberg Terminal
LEARN MORE
By Rich Miller
June 6, 2024 at 6:00 AM EDT
Save

The US job market may be a lot less vibrant than Federal Reserve
Chair Jerome Powell and his colleagues seem to think.

Data published Wednesday by the Bureau of Labor Statistics suggest
payrolls might have grown about 60,000 less per month on average last
year than the roughly 250,000 run-rate derived from the agency's
monthly employment report. The new figures, from the Quarterly Census
of Employment and Wages, cover more than 95% of US jobs, and are
eventually used in annual revisions to the monthly data.

 
Have a confidential tip for our reporters? Get in Touch
 
Before it's here, it's on the Bloomberg Terminal
LEARN MORE
 
HomeBTV+Market DataOpinionAudioOriginalsMagazineEvents
News
MarketsEconomicsTechnologyPoliticsGreenCryptoAI
Work & Life
WealthPursuitsBusinessweekCityLabEqualityPursuitsWork Shift
Market Data
StocksCommoditiesRates & BondsCurrenciesFuturesSectorsEconomic
Calendar
Explore
NewslettersExplainersThe Big TakeGraphicsSubmit a TipAbout Us
Terms of ServiceDo Not Sell or Share My Personal Information
TrademarksPrivacy Policy
CareersMade in NYCAdvertise
Ad Choices
Help(c)2024 Bloomberg L.P. All Rights Reserved.