|
| ||
 |
||
| Oregon's Employment: Revisions to Establishment Survey Data | ||
| 02/10/2005 | ||
|
Revised data show Oregon's economy stronger than expected Contact: David Cooke, economist WorkSource Oregon Employment Department 503-947-1272 Revised employment data show Oregon´s economy stronger in recent months than originally estimated. Total nonfarm payroll employment in October through December 2004 was recently revised upward by more than 10,000 jobs. The upward revisions were 10,500 for October, 12,500 for November, and 11,900 for December. Data going back to April 2003 was also revised, but the magnitude of revisions to months prior to October 2004 was relatively minor. Construction employment was revised upward by close to 2,000 in the second half of 2004. Manufacturing was revised upward by more than 1,000 for most of the second half of the year. Retail was revised upward by 3,900 for December. The other major industry to record a substantial upward revision was leisure and hospitality, which now is estimated to employ 5,500 more in December than was indicated by the original estimate. Within this industry the upward revisions were shared by its two components. Arts, entertainment and recreation was bumped up by 2,400 jobs for the December tally, while accommodations and food services is now thought to employ 3,100 more in December than was estimated last month. Only one major industry category was downgraded substantially. Financial activities was revised downward by 2,200 jobs for the 2004 annual average. In accordance with annual practice, the establishment survey data have been revised to reflect comprehensive universe counts of payroll jobs, or benchmarks. These counts are derived principally from unemployment insurance tax records for July 2003 through June 2004.The benchmark process resulted in revisions to all data series from April 2003 forward, the time period since the last benchmark was established. In addition, the seasonally adjusted establishment survey data from January 2000 forward will be revised to incorporate updated seasonal adjustment factors. The seasonally adjusted data will be available on February 28th. The accompanying table presents revised nonfarm employment data for 2004. The revised data for July 2004 forward incorporate the effect of applying the rate of change measured by the sample to the new benchmark level, as well as updated net business birth/death model adjustments. The total nonfarm employment level for June 2004 was revised upward by 400 or 0.0 percent. The previously published level for December 2004 was revised upward by 11,900 or 0.7 percent. The 2003 annual average was revised upward by 200 or 0.0 percent. The 2004 annual average was revised upward by 3,100 or 0.2 percent. The March 2005 issue of Oregon Labor Trends will contain an article that discusses the benchmark revisions in more detail. The Oregon Employment Department will release statewide unemployment rate and employment survey data for January 2005 at 11 a.m. on Monday, February 28, 2005. - end -
For the complete version of the news release, including this text, tables and graphs, visit www.QualityInfo.org/pressrelease. For help finding jobs and training resources, visit one of the state´s WorkSource Oregon Centers or go to: www.WorkSourceOregon.org. Equal Opportunity program - auxiliary aids and services available upon request to individuals with disabilities. |
||
