Each June, the BLS revises the previous year s employment totals. Probably no other report is as widely monitored by financial markets. What to look for Total change in payroll employment. Change in average hourly earnings. Strengths Release provides information on a wide rate of industries and regions.
Short time lag between when surveys are conducted and release date.
Gives good indication of emerging wage pressures in average hourly earnings component. Employment is a coincident indicator of economic growth and unemployment is a lagging indicator Weaknesses Subject to significant revisions since employment and unemployment are based on relatively small samples of businesses and households. Subject to large seasonal distortions. Brief Description Payroll employment is a measure of the number of jobs in more than five hundred industries except for farming and in all states and 255 metropolitan areas. The employment estimates are based on a survey of larger businesses.