0 votes

824,000 Jobs will Disappear On February 5!!!

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...........

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

I remember reading about this

I remember reading about this maybe 6 months ago, that the unemployment numbers were to be revised by -800,000 or so in Feb.

One of the benefits for the government of delaying this until now is that since there are already so many people unemployed that this revision will not make the percentage increase as significantly as it would have 1-2 years ago.