Why November's US unemployment rate was revised upJanuary 4, 2013 @ 9:32 am
(AP) - Unlike most economic data from the U.S. government, the monthly unemployment rate isn't usually revised later. If, for example, the Labor Department says the rate was 7.7 percent in a particular month, that rate normally stays 7.7 percent.
Until January, that is.
Every January, the government updates the formulas it uses to calculate unemployment data. The new formulas can change some of the rates for the previous five years. Typically, though, only a few of the monthly rates are revised.
On Friday, the government revised the unemployment rates for two months in 2012. The rate for November, first reported Dec. 7, was revised up to 7.8 percent from 7.7 percent. And the rate for July was revised down to 8.2 percent from 8.3 percent.
By contrast, monthly job creation numbers are revised twice in the two months after they're first released. They're also revised annually. The result is a frequently substantial gap between an initially reported jobs total and the final revised total.
For example, the government initially said employers added only 96,000 jobs in August. That wouldn't generally be enough to lower the unemployment rate. But the number jumped after two revisions to a robust 192,000.
The unemployment rate for that month still stands at 8.1 percent _ just as the government originally reported.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Back In Business
A temporary bridge span across the Skagit River is set to open Wednesday
What to Eat?
Woman living on light reveals what her first meal will be after 47 days without food
High Altitude Upgrade
The state's highest outhouse atop Mount Rainier is getting a badly needed upgrade
Bonneville Media encourages site users to express their opinions by posting comments. Our goal is to maintain a civil dialogue in which readers feel comfortable. At times, the comments can descend to personal attacks. Please do not engage in such behavior. We encourage your thoughtful comments which: have a positive and constructive tone, are on topic, are respectful toward others and their opinions. Bonneville reserves the right to remove comments which do not conform to these criteria.