In the monthly labor report discussed here earlier today, the Labor Department included the annual benchmark revisions to nonfarm payrolls for the last five years that resulted in downward revisions totaling 483,000 as shown below.

There were net increases of from 14,000 to 23,000 from 2006 to 2008, but 2009 payrolls were revised lower by 323,000 and, in 2010, the latest data show 215,000 fewer jobs.

In this item at the WSJ Economics blog, Paul Ashworth of Capital Economics noted, “Before the revisions, the estimates suggested that over the past year 1.1 million of the 8.3 million jobs lost during the recession had returned. Now it appears that only 950,000 of the 8.7 million jobs lost have been recovered”