The Establishment Survey Overestimated Job Creation by nearly 700,000 in 2023

Yesterday, we looked at how the Business Employment Dynamics (BED) report showed job losses last year while the much-reported and much-touted monthly Establishment survey report showed “blowout” job gains throughout most of the year. 

Indeed, over the past year, the Establishment survey has repeatedly showed considerably more job growth than both the BED report and the Household survey. 

Lennart Wagemans is a multi-decade Austrian economics thinker with an engineering degree from Denmark.