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Gary A. Wagner
Gary A. Wagner13 sie, 22:09
How good is the BLS at estimating employment? This chart compares the initial ADP (private payroll company) and BLS estimates of private payroll employment to the actual QCEW counts. ADP median error: 9.2%. BLS median error: 0.29%. The BLS's worst miss in 14 years was 0.97%.
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