Unemployment drops to 7.8%...want to buy a bridge?

[JD Barleycorn]

It is a given that it takes 150,000 to 180,000 new jobs every month to just stay even. Last month we added 114,000 jobs and unemployment drops .3% to 7.8%. Does this make any sense mathematically? So now we are to believe that 1+1= 2.7? We know that real unemployment is double digits and we can argue if it is 11% or if it is 19% but it is not anywhere near 8%. Then we remember that these numbers come from the Labor Department. Who runs the Labor Department? That's right, Obamatons. This is not partisan, this is math. A month from now those numbers will be corrected upward on a Friday afternoon and no one will notice.

Just let me leave you with this, they think that you are so stupid that you will suspend your common sense and believe their spiel. That is how much regard they have for you.

[ChoomCzar]

Originally Posted by JD Barleycorn

It is a given that it takes 150,000 to 180,000 new jobs every month to just stay even. Last month we added 114,000 jobs and unemployment drops .3% to 7.8%. Does this make any sense mathematically? So now we are to believe that 1+1= 2.7? We know that real unemployment is double digits and we can argue if it is 11% or if it is 19% but it is not anywhere near 8%. Then we remember that these numbers come from the Labor Department. Who runs the Labor Department? That's right, Obamatons. This is not partisan, this is math. A month from now those numbers will be corrected upward on a Friday afternoon and no one will notice.

Just let me leave you with this, they think that you are so stupid that you will suspend your common sense and believe their spiel. That is how much regard they have for you.

Who's surprised that the Odumbo administration would fool around with the numbers right before the election?........if the labor force participation rate was the same as January 2009, unemployment would be at least 12%.......I'm not worried about this because people don't feel better off......if anything, this number will heighten the attention paid to unemployment and people will see it for what it really is and Odumbo's credibility will be further damaged in the process......as things are now, the only thing that can save us from a double dip recession is a Romney victory in November.....I believe we'll avoid a double dip recession.......

[joe bloe]

After 43 months above 8%, the month before the election, we finally drop below 8%. Obama is either very lucky or very crooked. I think it's the latter.

[timpage]

Sit on it and spin.

The only defense you can muster is "oh, somebody cooked those numbers?" It's what the GOP says about adverse polling results, it's what you say about the effect of the repuke tax cuts, it's what you say about the jobs reports.

You had your 24 hours of euphoric celebration due to Romney performing beyond your wildest imaginations in the debate. Back to reality now. Unemployment just dropped below 8%.

[i'va biggen]

Boomers retiring....

[Budman]

We all know the numbers will be adjusted upward in a few weeks. It's impossible to add 114,000 jobs and drop the unemployment rate.

[waverunner234]

Originally Posted by timpage

Sit on it and spin.

The only defense you can muster is "oh, somebody cooked those numbers?" It's what the GOP says about adverse polling results, it's what you say about the effect of the repuke tax cuts, it's what you say about the jobs reports.

You had your 24 hours of euphoric celebration due to Romney performing beyond your wildest imaginations in the debate. Back to reality now. Unemployment just dropped below 8%.

Right and however you cook it, Obama will benefit from this fact.

[markroxny]

Look at all those sour grapes

[JD Barleycorn]

We have been speaking about the 150,000 to 180,000 long before this or any other debate. Now you're spinning.

[timpage]

Originally Posted by JD Barleycorn

We have been speaking about the 150,000 to 180,000 long before this or any other debate. Now you're spinning.

Not me. You're the one claiming the number released by the United States Department of Labor isn't the number. They say 7.8%. You're the one that needs to do the spinning.....get busy because this number is going to lead some newscasts this evening unless we start bombing Iran this afternoon.

[WTF]

Originally Posted by Budman

We all know the numbers will be adjusted upward in a few weeks. It's impossible to add 114,000 jobs and drop the unemployment rate.

impossible

Originally Posted by ekim008

Boomers retiring....

possible



Beginning January 1st, 2011 every single day more than 10,000 Baby Boomers will reach the age of 65. That is going to keep happening every single day for the next 19 years.

[markroxny]

Some Good News: Highlights From The September Jobs Report

By Pat Garofalo on Oct 5, 2012 at 9:25 am


The Bureau of Labor Statistics reported today that payrolls expanded by 114,000 last month, dropping the unemployment rate to 7.8 percent. 873,000 Americans reported having found jobs in September (in the so-called household survey), the most since 1983.
This adds to the total number of jobs created over President Obama’s term; revisions released last week by the BLS showed that Obama is net positive for jobs since January 2009. Here are some other highlights from the report:

– Labor force grows. The labor force grew by 418,000 people, so the drop in the unemployment rate was not due to people giving up on looking for work.
– Revisions shows stronger summer job growth. The number of jobs created in both July and August were revised up, adding a total of 86,000 jobs.
– Public sector finally stopped shedding jobs. State, local, and federal government finally ended a long period of job contraction, adding 10,000 jobs. Revisions show that the public sector created jobs in both July and August.
– Average hourly earnings rise. Earnings rose 7 cents to $23.58. Average hourly earnings have risen by 1.8 percent over the last year.

Of course, one month’s report does not make for a good economy, but the three-month average for job growth hit 145,000, a sign of a recovering labor market (albeit, one that is recovering slowly). Overall, the economy has added 1.3 million jobs this year.
The unemployment rate would be under 7 percent without public sector jobs cuts, while the American Jobs Act that Republicans filibustered in Congress would have added millions of jobs, according to economists.

Source:
http://thinkprogress.org/economy/201...ort/?mobile=nc

(cited so that people don't think im an Obama operative. LMAO!!)

[blue3122]

Originally Posted by JD Barleycorn

We have been speaking about the 150,000 to 180,000 long before this or any other debate. Now you're spinning.

Actually it takes about 275,000 jobs to create .1% employment.

So if the unemployment dropped .3%, then the jobs number should have been around 825,000 - 850,000. But it was only 114,000. So what happened?

Well, 600,000 people are now under a category called "part time employees for economic reasons". This is a category where people take part time jobs because they cannot find work in their chosen field and have not dropped out of the work force. The other 100,000 or so people have just given up on trying to find employment at all.

The "real" unemployment number is still around 14.5-15%.

The "revised" numbers come out on November 2nd. For the last 4 years, the numbers have gone up every time. Which means that they are fudging the first set of numbers to make it look as good as possible and then hoping no one pays attention to the revision.

This is one set of government employees that I would fire immediately upon election. They are so consistently wrong that this data is completely meaningless. ADP, a private company, produces much better data at zero cost to the taxpayers.

[timpage]

Originally Posted by blue3122

Actually it takes about 275,000 jobs to create .1% employment.

So if the unemployment dropped .3%, then the jobs number should have been around 825,000 - 850,000. But it was only 114,000. So what happened?

Well, 600,000 people are now under a category called "part time employees for economic reasons". This is a category where people take part time jobs because they cannot find work in their chosen field and have not dropped out of the work force. The other 100,000 or so people have just given up on trying to find employment at all.

The "real" unemployment number is still around 14.5-15%.

The "revised" numbers come out on November 2nd. For the last 4 years, the numbers have gone up every time. Which means that they are fudging the first set of numbers to make it look as good as possible and then hoping no one pays attention to the revision.

This is one set of government employees that I would fire immediately upon election. They are so consistently wrong that this data is completely meaningless. ADP, a private company, produces much better data at zero cost to the taxpayers.

ADP's jobs numbers for September are actually higher than the US Dep't of Labor. ADP says 162,000 increase in September. http://www.adpemploymentreport.com/

[CJ7]

JD is so brilliant Iam surprised he doesnt RUN the fucking BLS ...

nonetheless, he asks who, what and when ... you really want to know that?

see for yourself and screw JD's spin ...



http://www.bls.gov/cps/cps_htgm.htm