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Tuesday, March 09, 2021

SF Fed: Weather Reduced February Employment by About 100 Thousand

by Calculated Risk on 3/09/2021 11:56:00 AM

Every month, the San Francisco Fed estimates Weather-Adjusted Change in Total Nonfarm Employment (monthly change, seasonally adjusted). They use local area weather to estimate the impact on employment.

The BLS reported 379 thousand jobs were added in February.​

The San Francisco Fed estimates that weather adjusted employment gains were 482 thousand; about 100 thousand higher than the BLS reported.

Weather Adjusted Employment Click on table for larger image.

This table from Daniel Wilson at the SF Fed shows the BLS reported job gains for the last 6 months, and two estimates of the impact of weather.