Stevenson discusses job report calculations

January 10, 2022 CNBC

Recent government job reports have consistently undercounted the number of jobs created. Revisions are made regularly pushing those numbers up. Betsey Stevenson, professor of public policy and economics, explained how she estimates total jobs on CNBC.

"It is true that the employer survey is a smaller sample, so the weights I’ve done is 80% on the employer survey, 20% on the household survey," she said. "If you do that this month, you’re going to be adding in more jobs and that’s probably going to get you something closer to what it will revise to."