In addition to the September Jobs report to be released Friday (WSJ estimate is 145,000 - depressed +/- 50,000 or so by the Florida Huricanes) an additional wrinkle is that one years worth of payroll data is also beiong revised by the BLs.
According to the WSJ, there will be an upward revision of something from 288,000 to 384,000 in addition to the new September jobs..
This would give Bush a "number" for this years Job creation to proclaim that would be +/- 400-500K higher.
In reality, this is not a story, in the sense that no 'real" jobs are created - folks who got an underreported job in Dec 2003 still got the job, etc... But it certainly may have a political impact...
The jobs debate heats up this week, with the White House expecting that revised payroll data to be released Friday will put a shine on President Bush's record of helping the economy create new jobs.
Friday's data will be the last released before the Nov. 2 election. While markets will focus on the Bureau of Labor Statistics' jobs report for September, politicians might pay more attention to revised data for the period from March 2003 through March 2004.
A memo from the president's Council of Economic Advisers estimates that the payroll employment figure for that period could be revised upward by 288,000, and conceivably by as much as 384,000. [/i]
http://online.wsj.com/public/article/0,,SB109693799501436155,00.html?mod=todays%5Ffree%5Ffeature
