Friday, October 2, 2009

2-5-2010 Why?

This is the date on which the Labor Dept. will make a slight correction of the benchmark they use when determining the unemployment number.Current projections indicate there may have been 824,000 more jobs lost than were reported.Oops!Here is the text from the bureau.

Preliminary Estimates of Benchmark Revisions to the Establishment Survey

In accordance with usual practice, the U.S. Bureau of Labor Statistics
is announcing its preliminary estimates of the upcoming annual benchmark
revision to the establishment survey employment series. The final bench-
mark revision will be issued on February 5, 2010, with the publication
of the January 2010 Employment Situation news release.

Each year, the Current Employment Statistics (CES) survey employment
estimates are benchmarked to comprehensive counts of employment for the
month of March. These counts are derived from state unemployment insur-
ance tax records that nearly all employers are required to file. For
national CES employment series, the annual benchmark revisions over the
last 10 years have averaged plus or minus two-tenths of one percent of
total nonfarm employment. The preliminary estimate of the benchmark
revision indicates a downward adjustment to March 2009 total nonfarm
employment of 824,000 (0.6 percent).

Here are the month by month blows since the Obama regime took over.And remember,it was just Sept. 24th when Joe Biden stated to the nations Governors that the success of the stimulus exceeded his wildest imagination.

Mar: 652,000
Apr: 519,000
May: 303,000
June: 463,000
July: 304,000
Aug: 201,000 (preliminary)
Sept: 263,000 (preliminary)
Total: 2,705,000

Thank God for the 1 million jobs Obama claimed his stimulus has saved.More to come...

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