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By Jason Stipp | 02-04-2010 11:54 AM

Will Jobs Disappoint Again?

Our take on tomorrow's unemployment report, recent trends in the job market, and which firms are leading us out of the recession.

Jason Stipp: I'm Jason Stipp with Morningstar. The government releases its closely watched employment data tomorrow, and will we finally see some growth? Here to offer me their take on that, and also some trends in the employment sector, are Morningstar's Bob Johnson. He's associate director of economic analysis. And Vishnu Lekraj, he's an analyst covering the employment companies. Thanks so much for joining me again, guys.

Bob Johnson: Great to be here.

Vishnu Lekraj: Thanks for having us.

Stipp: Before we start and sort of dig in with your expectations, there are some revisions that are going to be taking place with the data tomorrow that may affect some of the longer-term numbers. Bob, can you explain a little bit about what's going on there?

Johnson: Absolutely. Once a year, they go through, and the BLS looks at the numbers and recalculates the job losses. They do this by looking at old tax records. So they go back literally one year. They're going to look at the numbers ending in March, April 2009, and compare the tax records.

They've already made some preliminary indications. They think the job losses will be as much as 800,000 more than we had previously thought this recession. So if we had been at 7.2 million job losses before, now we're probably going to look close to eight million job losses. So, it's a big number.

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