Surprisingly, QCEW says California added 267,000 jobs in the year ended in March. Yes, that's 60,000 MORE jobs than we thought. That's almost 30% more new jobs.
Statistical gaps of this magnitude may be fodder for government work jokes, but there is numerical science behind the varying numbers. Everybody overstates what most economic data actually is: estimates of business trends.
Take monthly jobs stats, which are released soon after a month ends. These numbers are based on surveys of 100,000 or so employers nationwide. Like any polling, there are margins for error that can be minor or massive.
Its statistics come from reviewing employer's unemployment insurance filings for 100 million-plus workers. It's widely accepted as the better jobs tally.
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