Employment and Wages: Alternative Measures (opens in new tab)

Nonfarm payroll employment upside surprise from CES. CPS indicates something less positive, as does ADP, trendwise. Figure 1: Change in nonfarm payroll employment according to CES May release (bold black). April release (gray), CPS series adjusted to NFP concept, 3 month centered moving average (red), early benchmark (light greenn), and QCEW covered employment (blue), all […]