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News & Politics News & Politics

Are New Job Numbers Fact or Fiction?

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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
Replies (11-12):
WinningWinning
by on Oct. 9, 2012 at 9:17 AM

The jobs numbers are not accurate in the grand scheme of things. 

Many of the latest hires have been done due to the impending holiday season, and more consumers eating fast food and dining out.

It is a known fact that during the holidays consumers eat out more often, thus the reason for beefing up eateries with more employees so the establishments won't have to pay overtime, they work many part timers.

This is common knowledge. But always works to someones advantage.

itsmesteph11
by on Oct. 9, 2012 at 9:26 AM
1 mom liked this
I agree and whether or not the numbers or the questions were skewed doesnt really matter. The facts about the economy are the real issue . They are not improving. If you believing this number alone means our economy is improving you are just plain wrong(not to mention gullible)
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