According to this report from Bloomberg, the BLS will revise its birth-death business model to more accurately reflect current economic realities. Their model has been seriously criticized. It assumes that as some businesses fail, they will be replaced by new businesses at a certain rate. Mish and others have been arguing for some time that the model is flawed and overestimates births. Perhaps the BLS is responding to this criticism. If so, then employment numbers will take a big hit.
From Bloomberg
