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Current Employment Statistics - CES (National)
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2024 Preliminary Benchmark Revision
In accordance with usual practice, the Bureau of Labor Statistics (BLS) is announcing the preliminary estimate of the upcoming annual benchmark revision to the establishment survey employment series. The final benchmark revision will be issued in February 2025 with the publication of the January 2025 Employment Situation news release.
Each year, the Current Employment Statistics (CES) survey employment estimates are benchmarked to comprehensive counts of employment for the month of March. These counts are derived from state unemployment insurance (UI) tax records that nearly all employers are required to file. For National CES employment series, the annual benchmark revisions over the last 10 years have averaged plus or minus one-tenth of one percent of total nonfarm employment. The preliminary estimate of the benchmark revision indicates an adjustment to March 2024 total nonfarm employment of -818,000 (-0.5 percent).
Preliminary benchmark revisions are calculated only for the month of March 2024 for the major industry sectors in table 1. The existing employment series are not updated with the release of the preliminary benchmark estimate. The data for all CES series will be updated when the final benchmark revision is issued.
Table 1 shows the March 2024 preliminary benchmark revisions by major industry sector. As is typically the case, many of the individual industry series show larger percentage revisions than the total nonfarm series, primarily because statistical sampling error is greater at more detailed levels than at an aggregated level.
| Benchmark revision (in thousands) |
Percent benchmark revision |
|
|---|---|---|
|
Total nonfarm |
-818 | -0.5 |
|
Total private |
-819 | -0.6 |
|
Mining and logging |
-11 | -1.7 |
|
Construction |
-45 | -0.6 |
|
Manufacturing |
-115 | -0.9 |
|
Trade, transportation, and utilities |
-104 | -0.4 |
|
Wholesale trade (1) |
-33.6 | -0.6 |
|
Retail trade (1) |
-129 | -0.8 |
|
Transportation and warehousing (1) |
56.4 | 0.9 |
|
Utilities (1) |
1.7 | 0.3 |
|
Information |
-68 | -2.3 |
|
Financial activities |
-76 | -0.8 |
|
Professional and business services |
-358 | -1.6 |
|
Private education and health services |
87 | 0.3 |
|
Leisure and hospitality |
-150 | -0.9 |
|
Other services |
21 | 0.4 |
|
Government |
1 | (2) |
|
Footnotes: |
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Last Modified Date: August 21, 2024