7.8% Unployment

[dlbleak]

Don't be surprised to see them report it below 6% next month.

this^^ i'm still trying to make my calculator figure that 116,000 jobs=.4 drop in unemployment

 

[alongroove]

I have some magic beans to sell anyone who believes that it's 7.8.

 

[OKC03Cobra]

Here is how the 0bama Regime cooked the books:

http://theeconomiccollapseblog.com/archives/a-jobs-report-conspiracy

 

[Wheel Gun]

It's a miracle!!!!!!!!

 

[DPI]

Here is how the 0bama Regime cooked the books:

http://theeconomiccollapseblog.com/archives/a-jobs-report-conspiracy

Good read. a household survey is showing the increase. Maybe a free phone with each correct answer!

Well, isn't that convenient? The Obama campaign desperately needed the last employment report to be released before the election to show that the unemployment rate had fallen below 8 percent, and somehow it magically happened. Even though non-farm payroll employment only increased by 114,000 last month (not enough to even keep up with population growth), the official unemployment rate fell from 8.1 percent to 7.8 percent. So how did that happen? Well, the unemployment number is not based on the survey of employers that showed that 114,000 jobs were added to the economy last month. Rather it is based on a survey of households. And that survey showed that the total number of Americans employed last month increased by a whopping 873,000 - almost eight times the number that the employer survey showed. That figure for September (873,000) was the biggest one month increase in 29 years. And it just happened to come at the exact perfect time for Barack Obama. So was there a jobs report conspiracy? Examine the evidence and decide for yourself.

 

[Dale00]

I don’t think it is healthy for conservatives to scream that both the polls and the jobs report are cooked. I think we can agree there may be statistical errors in both, but I think Phil Klein has the best take on why the jobs number may not be terribly off, but why it is not a good thing. And I think instead of screaming conspiracy, we should explain what is going on and how bad it is.

As Phil notes, the reason for the drop in unemployment is not that people have suddenly gone out and found a bunch of new full time jobs. It’s that part time workers have given up looking for full time work and are now considering their part time jobs to be full time.

a more detailed look at these numbers shows that 572,000 - or about 67 percent - of the reported job gains that contributed to the reduction in the unemployment rate came from workers who had to settle for part time work. BLS explains that, “The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.”

In other words, Barack Obama has failed again to make eye contact with the problem and now his administration is trying to spin these numbers as good instead of actually looking at the jobs people are suddenly considering full time.

Flipping burgers at McDonalds on a part time basis has suddenly become a job Barack Obama wants to brag about as a full time success story.

There’s the issue. It’s not a conspiracy. It’s crap.

http://www.redstate.com/2012/10/05/the-books-werent-cooked-obamas-recovery-is-just-crap/ H/T Glenn Reynolds

People need real skills and a real education. A generic diploma is not a ticket to a job. And Obama is not the right person to turn things around.

 

[tntrex]

Does not pass the sniff test. What timing!

 

[OliverKlohzoff]

[Broken External Image]

 

[DPI]

We need engineers. There are openings at several places in Tulsa. It's too bad we hire individuals on work visas when we should be growing our own!

 

[OKC03Cobra]

Why Today’s BLS Jobs Numbers Make No Sense

http://www.redstate.com/2012/10/05/why-todays-bls-jobs-numbers-make-no-sense/