October jobs report includes big revisions (AP)

The government sharply revised upward the number of jobs created in September and August. The larger job totals for those two months were included in the October employment report, which was released Friday. They largely reflect late data submitted by companies and other employers. Revisions are done each month for the preceding two months. So far this year, they have shown an additional 196,000 jobs created. The biggest revisions have been to hiring in August. Initially, the government said zero net jobs were created. Since then, the number has been revised up to 104,000. Revisions can signal a trend in hiring, economists say. They tend to be higher when the economy is adding jobs, and lower when employers are shedding positions. Below is a table showing revisions to each month this year. Month Initial Estimate First revision Final Revision Net gain (loss) October 80,000 NA NA September 103,000 158,000 NA 55,000 August 0 57,000 104,000 104,000 July 117,000 85,000 127,000 10,000 June 18,000 46,000 20,000 2,000 May 54,000 25,000 53,000 -1,000 April 244,000 232,000 217,000 -27,000 March 216,000 221,000 194,000 -22,000 February 192,000 194,000 235,000 43,000 January 36,000 63,000 68,000 32,000

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/ap/20111104/ap_on_bi_ge/us_economy_revisions_glance

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