Early Benchmark Revisions of State Payroll Employment

The Federal Reserve Bank of Philadelphia produces quarterly early benchmark estimates of monthly state employment for all 50 states and the District of Columbia. Our estimates incorporate more comprehensive, accurate job estimates released by the Bureau of Labor Statistics’ (BLS) Quarterly Census of Employment and Wages (QCEW) to augment the sample data from the BLS’s Current Employment Statistics (CES) that are issued monthly on a timely basis.

In March of each year, the BLS issues benchmarked revisions of its monthly CES state employment estimates. However, data from the QCEW – containing much of the underlying data upon which the annual benchmarks are made – are issued quarterly. This quarterly release allows Federal Reserve Bank of Philadelphia researchers to create our own early benchmark estimates on a more timely basis. Our methodology was adapted from an approach pioneered by the Federal Reserve Bank of Dallas and modified to accommodate all 50 states.

Our early benchmark estimates will be released approximately one week after the QCEW data become available. The QCEW data are released just over five months after the end of each quarter.

Recent Releases

Last updated: November 8, 2022