The March 2023 total nonfarm payroll employment level was revised downward by 187,000, or an absolute revision of -0.1 percent, not seasonally adjusted from the previously published level.
Over the prior 10 years, absolute benchmark revisions have averaged 0.1 percent, with a range from −0.3 percent to 0.3 percent. Benchmark revisions are a standard part of the payroll survey estimation process. The benchmark adjustment represents a once-a-year re-anchoring, based on March data, of sample-based employment estimates to full population counts available through Unemployment Insurance (UI) tax records filed by nearly all employers with State Workforce Agencies.
For more detailed information, please see the CES National Benchmark Article available at www.bls.gov/web/empsit/cesbmart.htm.
Last Modified Date: February 2, 2024