http://finance.yahoo.com/news/Recession-job-losses-likely-cnnm-1918697452.html?x=0&sec=topStories&pos=6&asset=&ccode=
How inept can the labor department get, or was it intentionally low balled?
My guess was it was intentional to make a bad situation look better.
This makes the stimulus funding expenditure look like the joke that it really is, and what you weren't supposed to find out about.
As bad as job losses were during the recession, we're about to find out that things were even worse.
The government currently estimates that 2.2 million jobs were lost from April of 2009 through March of this year, a significant portion of the 7.8 million jobs lost since the start of 2008.
But in a little-noticed note at the bottom of September's jobs report, the Labor Department said it now appears there were 366,000 additional jobs lost during the 12 months that ended in March, a revision that is not yet included in the official numbers.
That revision isn't as bad as last year's -- when the Labor Department said that an additional 902,000 jobs were lost. But it is still the second largest downward adjustment in nearly 20 years.
The final revision won't be announced until February, but the Labor Department gives a preview in early October of what it is expecting.
This year's large revision is a sign of the difficulty the Labor Department has estimating
