You may have heard about the revision that added 386,000 jobs to the number created in the U.S. between April 2011 and March 2012. In St. Louis, unfortunately, the same statistics point to fewer jobs, not more.
Howard Wall, director of Lindenwood University’s Institute for the Study of Economics and the Environment, uses the Labor Department’s quarterly census of employment and wages to compile his own employment estimates for the St. Louis metropolitan area. For some reason, the department itself waits several months to correct its metro-area estimates, which are based on a survey of employers. (The census is considered more accurate, because it’s based on unemployment insurance returns filed by employers.) Read more on St. Louis Post-Dispatch.