ANY REVISION IN 1992'S JOB COUNT IS LIKELY TO BE FOR THE BETTER
When the Bureau of Labor Statistics issued its annual benchmark revisions of payroll employment last March, it slashed the job count for 1991 by some 650,000 jobs--a downward adjustment that some economists have predicted will be repeated when the agency issues its forthcoming revisions for 1992.
Don't bet on it. The word from the BLS is that the benchmark revision will be minimal. In fact, payroll growth during the year may be revised slightly upward. That's because the agency indicates that it may have been lowballing the "bias" adjustment it makes to the monthly payroll numbers to correct for new jobholders missed by its survey.GENE KORETZ