824,000 Jobs will Disappear On February 5!!!Submitted by takeaction on Thu, 02/04/2010 - 06:05
On Friday, expect to see the BLS revise job creation estimates down by a whopping 824,000 jobs. The culprit, as I have been harping on for a couple years is a birth-death model far out of sync with reality.
Bloomberg has some nice interactive charts in an article Birth Death Model Insights.
Originally the BLS said 4.8 million jobs were lost between April 2008 and March 2009.
This is what it looks like now...........