Geographic Solutions derives its employment forecast and unemployment rate forecast from internal data on the number of job openings/searchers/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).
Geographic Solutions, Inc. has produced forecasts for the monthly change in employment and the monthly unemployment rate. These are the two most closely watched macroeconomic data series from The Bureau of Labor Statistics' (BLS) monthly surveys that measure labor market trends, The Current Employment Statistics (CES; also known as "the payroll" or "the establishment" survey) and The Current Population Survey (CPS; also known as "the household survey").
GEOGRAPHIC SOLUTIONS PREDICTS:
Jobs are predicted to increase in February by 258,000, in keeping with the strengthening trend seen since October last year.
The Chart shows shaded ranges that represent 80% and 90% probabilities of the actual employment result.
Geographic Solutions' employment forecast is represented by the horizontal blue line to the right.
In Comparison:
Job Creation in the 1st quarters since 2021 has outperformed other quarters. January’s strong result of 353,000 indicate that is continuing in 2024.
GEOGRAPHIC SOLUTIONS PREDICTS:
The unemployment rate will increase to 3.8% for February, which is slightly higher than the 3.7% we saw in January.
This chart shows shaded ranges that represent 80% and 90% probabilities of the actual unemployment rate result.
Geographic Solutions' unemployment rate forecast is represented by the horizontal blue line to the right.
On Friday, March 8th, The Bureau of Labor Statistics (BLS) will release their two monthly surveys,
The Current Employment Statistics (CES) survey and The Current Population Survey (CPS).
After the release of the report, Geographic Solutions will post a full analysis of the results.
