You can bet that Jan. unemployment#s will be revised downward like Dec #s (revised downwards to 150k loss from 85k).

Negatives

1. 2009 benchmark revision reveal employment in 2009 was far worse than originally believed — revised data showed nearly 600,000 more jobs lost than previously reported.

2. The number of long-term unemployed — jobless for 27 weeks or longer — is still rising. Since the December 2007 start of the recession, long-term unemployed has risen by 5.0 million. (See table A-12.)

3. NiLFS — Not in Labor Force — rose 409,000 to ~2.5 million persons. They are also called “marginally attached to the labor force” — not in the labor force, want and available for work, and had looked for a job sometime in the prior 12 months. (See table A-16.)

4. The average workweek for all employees on private nonfarm payrolls are still near record lows — 33.9 hours in January.5. 1.1 million discouraged workers in January is a huge increase of 734,000 from a year earlier. (Discouraged workers are not currently looking for work because they believe no jobs are available for them)

6. Revisions continue to be negative. December 2009 was revised downwards to 150k loss from 85k.

- cramerisassmonkey

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