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CES Preliminary Benchmark Revision: NFP

Summary:
Down 501K in March.  Private NFP down 514K. Figure 1: Nonfarm payroll employment, July 2019 release (blue), stochastic trend 2014-2016 (red), and March preliminary benchmark revision (August 21, 2019), all on log scale. Light green shading denotes Trump administration. Source: BLS via FRED, BLS, and author’s calculations.

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Down 501K in March.  Private NFP down 514K.

Figure 1: Nonfarm payroll employment, July 2019 release (blue), stochastic trend 2014-2016 (red), and March preliminary benchmark revision (August 21, 2019), all on log scale. Light green shading denotes Trump administration. Source: BLS via FRED, BLS, and author’s calculations.

Menzie Chinn
He is Professor of Public Affairs and Economics at the University of Wisconsin, Madison

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