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September payrolls fall 263k. Juy revised to -303k.

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  • Fri, Oct 02, 2009 - 01:40pm

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    George Karpouzis

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    Joined: Feb 17 2009

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    September payrolls fall 263k. Juy revised to -303k.

BLS adds update for Q1 2009

Preliminary tabulations indicate that the estimate of total
nonfarm payroll employment for March 2009 will require a downward
revision of approximately 824,000, or six-tenths of one percent.
The historical average for the benchmark revision over the prior
10 years has been plus or minus two-tenths of one percent.  Most
of the additional job loss occurred in the first quarter of 2009,
when payroll employment was declining most steeply, and appears
to be due in part to an increase in the number of business
closings.

http://www.bls.gov/news.release/jec.nr0.htm

 Also, over 500,000 fall off the workforce. U6 at 17%.

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