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The Bureau of Labor Statistics (BLS) will release its monthly Current Employment Statistics (CES) and Current Population Survey (CPS) report for December 2022 on Friday, January 6th. Geographic Solutions, Inc. has produced forecasts of the two most closely watched macroeconomic data series from the report: the monthly change in employment and the monthly unemployment rate.
Geographic Solutions’ data is signaling a continuation of job growth between 250,000 and 300,000 experienced in each of the previous four months. As seen in the chart below, jobs are predicted to increase in December by 273,000. Geographic Solutions derives its employment forecast from internal data on the number of job searchers and applications for unemployment benefits filed on Geographic Solutions state client sites. The forecast uses unemployment claims data from the U.S. Department of Labor (USDOL).
Portrayed in the chart below is the 3.7% unemployment rate that Geographic Solutions forecasts for December, unchanged from its November rate. The unemployment rate forecast uses internal data on the number of job openings, job searchers, job applications, unemployment applications, and job severances on Geographic Solutions state client sites. The forecast uses unemployment claims data from the USDOL.
After the release of the report, Geographic Solutions will post a full analysis of the results.