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Higher new Census population estimates will affect the employment report
Over the past year, researchers have been deliberating about how to measure the size of the U.S. population. In early 2024, the Congressional Budget Office (CBO) published estimates suggesting much higher post-2020 population growth than previously estimated, largely stemming from an unanticipated surge in migration. Now the Census Bureau has revised its population estimates to be more closely aligned with the higher CBO numbers. This brief explains why the change matters and how it will affect the employment report slated to come out February 7.
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