BLS Data Indicates 800,000 More Jobs Were Lost Last Year

Posted on February 5, 2010

CNN/Money explains how the Bureau of Labor Statistics (BLS) data was off by 800,000 jobs. The BLS is revising its payroll frigures from April 2008 through March of 2009 to indicate there are 800,000 less jobs. The Labor Department's new estimate will mean that there have actually been 8 million jobs lost since 2007 instead of 7 million. CNN/Money's expert says the reason is because the models are not always correct, especially during major recessions. Take a look: