BLS revised July payroll employment from a gain of 21,000 to a loss of 10,000, and July and August combined are now 60,000 lower than first reported. Here is what revisions mean and why the first estimate is not the final word.
Homebase says small-business hiring turned positive year over year, Paychex calls small-business employment steady, and QuickBooks estimates microbusinesses shed jobs. The reports cover different employers, months and measures, and should not be averaged.
BLS projects U.S. employment will grow 3.5% to 176.2 million by 2035, led by health care, with office support jobs shrinking fastest. Ten-year projections guide planning; they do not forecast local hiring.
