In actuality, the third quarter experienced a little net loss for the private sector. MORE NEWS: Trump Official Blames Elizabeth Warren in Autopen Scandal
Although the disparity between the quarterly BED data and monthly employment reports is not new, the extent of the change nevertheless raises concerns.
Because the BED data is generated from real unemployment insurance applications given by firms, it is more complete than the monthly job estimates,
Which are based on a rotating sample of around 600,000 enterprises, of which less than 200,000 are polled each month.
The BLS also carried out its yearly benchmarking procedure in early 2025, which modifies monthly employment projections to match more precise data.
The benchmark adjustment revealed that prior employment growth estimates for the March 2023–March 2024 timeframe were 598,000 jobs overstated.
