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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 August 2023 on Friday, September 1st. 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 August by 180,000. Geographic Solutions derives its employment forecast from internal data on the number of job applications and job severances 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 3.5% unemployment rate that Geographic Solutions forecasts for August, maintaining its July rate. The unemployment rate forecast uses internal data on the number of job openings, job applicatiobs, job severances, and unemployment applications filed on Geographic Solutions state client sites. The forecast uses unemployment claims data from the U.S. Department of Labor.
After the release of the report, Geographic Solutions will post a full analysis of the results.