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.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.