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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 2023 on Friday, January 5th. 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.
As seen in the chart below, jobs are predicted to increase in December by 231,000, a slight pick-up even as Geographic Solutions sees slowing job growth over the next six months. Geographic Solutions derives its employment forecast from internal data on the number of job openings and job applications filed on Geographic Solutions state client sites.
Portrayed in the chart below is the 3.8% unemployment rate that Geographic Solutions forecasts for December, a slight increase from its November rate of 3.7%. The unemployment rate forecast uses internal data on the number of job openings, job searchers, job applications, and unemployment applications filed on Geographic Solutions state client sites. The forecast uses unemployment claims data from the U.S. Department of Labor (USDOL).
After the release of the report, Geographic Solutions will post a full analysis of the results.