WASHINGTON (Reuters) - The U.S. economy likely created 7,000 more jobs in the 12 months through March than previously estimated, the Labor Department said on Thursday.
The reading is a preliminary estimate of the department’s annual “benchmark” revision to closely watched payrolls data.
Once a year, the government compares its non-farm payrolls data, based on monthly surveys of a sample of employers, with a much more complete database of unemployment insurance tax records.
A final benchmark revision will be released in February along with the department’s report on employment in January. Government statisticians will use the final benchmark count to revise payroll data for months both prior to and after March.
Reporting by Lucia Mutikani; Editing by Andrea Ricci