Labor data might have been overcounted by as much as 1.1 million jobs earlier this year, the Federal Reserve Bank of Philadelphia revealed in a new quarterly report.
According to the regional central bank’s second-quarter “Early Benchmark Revisions of State Payroll Employment” report (pdf), researchers’ estimated employment changes that occurred between March and June were different in 33 states and the District of Columbia from data published by the Bureau of Labor Statistics (BLS).
