Stellar Jobs Report for Foreign Born Workers - Will This Push Higher Interest Rates?


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AI Analysis:

The Establishment Survey (payrolls) and the Household Survey are two different methods used by the U.S. Bureau of Labor Statistics (BLS) to gather employment data, each providing a distinct perspective on the labor market.

Establishment Survey (Payrolls):

Methodology: This survey collects data from businesses and establishments, including government agencies, covering about 145,000 businesses and government agencies nationwide. Focus: It emphasizes employment, hours worked, and earnings within nonfarm establishments. Scope: It does not include agricultural employment, self-employed individuals, and private household workers. Data Usage: The establishment survey is widely regarded for providing detailed industry-specific information and is used to estimate total nonfarm payroll employment.

Household Survey (Actual Number Employed):

Methodology: This survey gathers data from a sample of around 60,000 households through interviews with individuals, asking about their employment status. Focus: It covers a broader range of employment, including nonfarm, agricultural, self-employed, and private household workers. Scope: It captures information on the labor force participation rate, unemployment rate, and the number of people employed and unemployed. Data Usage: The household survey is often used to calculate the unemployment rate and provides a more comprehensive view of the labor force, including those who are self-employed or work in nontraditional arrangements.

In summary, while the Establishment Survey (payrolls) focuses on business establishments and nonfarm payroll employment, the Household Survey captures a broader spectrum of employment, encompassing various employment arrangements and sectors. Both surveys contribute to a more comprehensive understanding of the labor market when analyzed together. However, discrepancies may arise due to differences in methodologies and sample sizes.


March 2024 Jobs Report Details


March 2024 Jobs Report

Behind March 2024 Jobs Report

Fed Guidance