Tuesday, June 2, 2009

Reality Check

by the Sandwichman

On May 10, Sandwichman predicted the May BLS Non-farm payroll employment would decline between -775,000 to -835,000 jobs lost.

In a Bloomberg News survey of 60 economists, the median estimate of decline in the May payroll report is -521,000, compared with -539,000 in April.

It's getting close to report card time. The ADP survey will come out Wednesday morning giving an early indication of the direction and magnitude of job losses in May. The BLS report comes out on Friday.


Ken Houghton said...

Does your estimate include the revisions in the two previous months as well?

Sandwichman said...


See my revised preliminary update.