Friday release of May employment (labor force survey):
Figure 1: Monthly employment from Labor Force survey (blue), nonfarm payroll employmet from Survey of Payroll, Employment and Hours (SPEH) (red), and monthly GDP (green), all in logs, 2025M10=0. Source: StatCan, and author’s calculations.
The last two observations on civilian employment — based upon population controls, etc. — pertain to Q2 (rather than Q1), as does the last observation on monthly GDP.
See this post on quarterly indicators (including final sales to private domestic purchasers, equivalent to GDO, and personal income ex-transfers in this post. Statement by CD Howe Institute’s Business Cycle Council here.
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