In the latest installment of the REALTOR® University Speaker Series, former Bureau of Labor Statistics Commissioner Dr. Kathryn Abraham talked about the monthly household survey versus the monthly employer survey–what each of them is capturing, why they sometimes differ, and what they tell us.
The live Webinar took place on Friday, June 5, but if you were unable to attend or want to watch the presentation again it can be viewed on the NATIONAL ASSOCIATION OF REALTORS® YouTube Channel.
Here are some highlights from the presentation and what you need to be aware of as a REALTOR®:
- The two main sources of labor market data are the monthly household survey, the Current Population Survey (CPS), and the monthly employer survey, the Current Employment Statistics (CES) survey
- Concepts with the employment surveys are different, but both cover jobs
- The CPS measures if you are employed, unemployed, and if you are in or out of the labor force
- To assess unemployment today versus historically, you have to look at all unemployment series together, including discouraged workers and part-time workers who are looking for full time work
- When the unemployment rate falls, REALTORS® should check to see if it’s because of a drop in the labor force or job growth
Thanks to all who participated and stay tuned for announcements on the next session of the Speaker Series!