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News & Politics News & Politics

Are New Job Numbers Fact or Fiction?

Posted by on Oct. 8, 2012 at 1:40 PM
  • 12 Replies

Are New Job Numbers Fact or Fiction?

 OCTOBER 8, 2012 10:28 AM

So the Labor Department has announced unemployment went down from 8.1% to 7.8% in its latest jobs report. But the Obama administration did much more than that. They also decided to revise job numbers back through July. Now that’s initiative. Finally, this administration has shown the kind of motivation we expect from government — especially one that may soon find itself unemployed.

The question is, are the new numbers fact or fiction? Many folks aren’t buying what the administration is selling.

Florida Republican Rep. Allen West stood tall and stated his beef in an interview with CNBC. “Did the workforce participation rate change? No. It’s still a 30-year low. Did the U6 computation 14.7 percent change? No. So how is it that we had a drop of three-tenths of a percentage point on the unemployment rate if these other statistics which related to that do not change?”

He also noted that GDP numbers have dropped from 4.1% to 1.9% to 1.7% and “got revised down just about a month ago to 1.3 percent.”

But scrutiny didn’t come from just Republicans.

FOX reported economist Dean Baker, with the Center for Economic and Policy Research, said the rate drop was “almost certainly a statistical fluke.” He’s a liberal.

And after scratching his head, former Congressional Budget Office director Doug Holtz-Eakin said, “It is out of line with any of the other data.”

Unemployment is based upon household surveys — you know, like the incredibly accurate voter polls. The ex-director went on to say that an estimate of 873,000 new jobs seems “implausible.”

Even using the Labor Department’s recently “revised” numbers, the monthly average for jobs added in 2012 is 146,000. The ex-director thinks the new numbers are implausible. How about you?

Bloomberg.com reported a tweet from former General Electric CEO Jack Welch. He took this issue into the back rooms where the game of government is really played. “Unbelievable jobs numbers..these Chicago guys will do anything..can’t debate so change numbers.”

Can you blame him? This is the same administration that brought you Fast and Furious and the recent WARN Act controversy. These folks even tried to blame dissatisfied viewers of a bad movie for the Libya consulate attack. They’ve earned any skepticism they get, don’t you think?

Look, government is about power and we all know power corrupts. All administrations, Republican and Democrat, fiddle and diddle behind the curtain. Some administrations are polished, sly and successful and the peasants never discover any shenanigans. Other administrations, far more sloppy and unpolished, end up mired in scandal. But they all play games.

Just ask yourself what is more likely, that virtually all other economic data has remained the same, yet there was a drop in unemployment, or, coming out of an empty suit debate debacle, Obama and his administration decided they needed to fudge a few numbers?

We all hope the drop in unemployment is true because too many American families have been in pain far too long. But for election purposes, does it really matter? It is not even a half-percent improvement. Any person that would justify a vote for Obama because unemployment improved three-tenths of a percent a month prior to voting is clearly a bigger nincompoop than Larry, Curly or Moe.

After getting embarrassed badly in the first debate, Obama and his Liberal-lunatics think improved job numbers will help his re-election chances. That’s their bet. What you can bet on is that, like Fast and Furious, the Libya attack and the recent WARN Act flare-up, there is almost certainly more going on here than meets the eye.

And you can take that to the voting booth.

by on Oct. 8, 2012 at 1:40 PM
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Replies (1-10):
Ednarooni160
by Eds on Oct. 8, 2012 at 1:49 PM
1 mom liked this

Can you blame him? This is the same administration that brought you Fast and Furious and the recent WARN Act controversy. These folks even tried to blame dissatisfied viewers of a bad movie for the Libya consulate attack. They’ve earned any skepticism they get, don’t you think?

gsprofval
by Gold Member on Oct. 8, 2012 at 1:57 PM


Quoting Ednarooni160:

Can you blame him? This is the same administration that brought you Fast and Furious and the recent WARN Act controversy. These folks even tried to blame dissatisfied viewers of a bad movie for the Libya consulate attack. They’ve earned any skepticism they get, don’t you think?


It keeps getting more interesting to see how many times corrupt obama is getting caught in the act, isn't it?

7SportsMom7
by Bronze Member on Oct. 8, 2012 at 2:01 PM
1 mom liked this

Yes ... but what is even more interesting and quite sad is they still find a way to get away with it.

Quoting gsprofval:


Quoting Ednarooni160:

Can you blame him? This is the same administration that brought you Fast and Furious and the recent WARN Act controversy. These folks even tried to blame dissatisfied viewers of a bad movie for the Libya consulate attack. They’ve earned any skepticism they get, don’t you think?


It keeps getting more interesting to see how many times corrupt obama is getting caught in the act, isn't it?


NancSBRN
by Bronze Member on Oct. 8, 2012 at 3:50 PM
1 mom liked this

I guess no one watch the New story that showed where all that is tabulated and how many economist work on each piece not having access to each other works, under sworn secrecy with a director that had been there since before Regan was in office, and hold the numbers in a safe until they are released. Enough said when asked so you never take calls for the administration or anyone else here. He said if that happened people would be fired . They only poll 60,000 households each month.

Sour grapes it may be a fluke however, or it may be that the stores are starting to hire season staff already. But around here there are JOB openings and new business start ups more and more now.

That is not to say things would be nice if more people where back to work but look at the scope of the shit storm that came down starting in 2007, and that the job growth goes up and down anyway. But we have a long, long way to crawl out of the mess it took decades of bad policy to overcome.


Sisteract
by Socialist Hippie on Oct. 8, 2012 at 4:00 PM

My employer (in our department) did hire a handful in the last quarter- first time in 2 years.

MsDenuninani
by Bronze Member on Oct. 8, 2012 at 4:20 PM

Saying that Obama fudged employment numbers to change the topic from the debate is like saying that Bush ignored 9/11 warnings so he could have an excuse to evade Iraq.

Conspiracy theories are stupid.

Jambo4
by Gold Member on Oct. 8, 2012 at 5:06 PM
1 mom liked this

I vote fiction

SallyMJ
by Ruby Member on Oct. 8, 2012 at 6:52 PM
2 moms liked this

FICTION - How can unemployment decrease 3 percentage points in a month, when you add only 115,000 fulltime  jobs (need to add 200-250,000 per month just to keep up at the same unemployment rate.  So you add 115,000 jobs, and 800,000 people take part-time jobs (underemployed, ran out of unemployment insurance), and 400,000 more stop looking for work - How is this unemployment better? Not in my world, or that of the unemployed, underemployed, and discouraged.  

Meadowchik
by Gold Member on Oct. 9, 2012 at 9:02 AM

The numbers are still poor, even given the decreased UE rate.  Real unemployment is still at minimum between 14 and 16 percent, the workforce size is at historical lows, and this after another round of bank stimulus which was supposed to boost market confidence and lending. 

denise3680
by Gold Member on Oct. 9, 2012 at 9:10 AM

It would not matter to some either way, they do not like him and this or anything is not going to change that:/There are alot of companies hiring in my area, hell my hubby got a job and he has not even retired from the military yet.  They are desperate for hands on workers in this area but noone wants to work hard they want the cushy jobs that pay big wages:/  Plenty of middle of the road jobs here, drivers especially.

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