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NOTES

Source: Federal Reserve Bank of St. Louis  

Release: Supplemental Estimates, Underlying Detail Tables, Spliced Series

Units:  Millions of Chained 2012 Dollars, Seasonally Adjusted

Frequency:  Monthly

Notes:

Real Manufacturing and Trade Industries Sales (CMRMTSPL) was first constructed by the Federal Reserve Bank of St. Louis in June 2013. It is calculated using Real Manufacturing and Trade Industries Sales (HMRMT) (https://fred.stlouisfed.org/series/HMRMT) and Real Manufacturing and Trade Industries (CMRMT) (https://fred.stlouisfed.org/series/CMRMT).

Before January 1997
lag1(HMRMT) = one observation earlier than current time period observation
HMRMT_PC = the growth rate of HMRMT
lead1(CMRMTSPL) = one observation later than current time period observation
HMRMT_PC = [HMRMT/lag1(HMRMT) –1]
CMRMTSPL= lead1(CMRMTSPL)/(1+HMRMT_PC)

After December 1996
CMRMTSPL= CMRMT

Suggested Citation:

Federal Reserve Bank of St. Louis, Real Manufacturing and Trade Industries Sales [CMRMTSPL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CMRMTSPL, August 18, 2022.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Thousands of Persons, Seasonally Adjusted

Frequency:  Monthly

Notes:

All Employees: Total Nonfarm, commonly known as Total Nonfarm Payroll, is a measure of the number of U.S. workers in the economy that excludes proprietors, private household employees, unpaid volunteers, farm employees, and the unincorporated self-employed. This measure accounts for approximately 80 percent of the workers who contribute to Gross Domestic Product (GDP).

This measure provides useful insights into the current economic situation because it can represent the number of jobs added or lost in an economy. Increases in employment might indicate that businesses are hiring which might also suggest that businesses are growing. Additionally, those who are newly employed have increased their personal incomes, which means (all else constant) their disposable incomes have also increased, thus fostering further economic expansion.

Generally, the U.S. labor force and levels of employment and unemployment are subject to fluctuations due to seasonal changes in weather, major holidays, and the opening and closing of schools. The Bureau of Labor Statistics (BLS) adjusts the data to offset the seasonal effects to show non-seasonal changes: for example, women's participation in the labor force; or a general decline in the number of employees, a possible indication of a downturn in the economy. To closely examine seasonal and non-seasonal changes, the BLS releases two monthly statistical measures: the seasonally adjusted All Employees: Total Nonfarm (PAYEMS) and All Employees: Total Nonfarm (PAYNSA), which is not seasonally adjusted.

The series comes from the 'Current Employment Statistics (Establishment Survey).'

The source code is: CES0000000001

Suggested Citation:

U.S. Bureau of Labor Statistics, All Employees, Total Nonfarm [PAYEMS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PAYEMS, August 18, 2022.

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