The U.S. may lose 824,000 jobs when the government releases its annual revision to employment data on Feb. 5, showing the labor market was in worse shape during the recession than known at the time. Click here for a Bloomberg Multimedia interactive visual analysis of the economy’s job losses.
Originally the Labor Department said the economy shed 4.8 million jobs, with most of those losses coming after September 2008. This weeks looming revision shows instead that 5.6 million jobs were eliminated in that time. It also lays bare a fundamental problem the government has when it tallies up the monthly job numbers.
[The fundamental problem is called LYING].