Hope the 7.8 number is a topic on Thursdays VP debate. It would be nice to see Ryan explain the 7.8 calculation and why the U6 numbers are not included. Also showing the ACTUAL unemployed rate with U6 included.
If participation went up and jobs created were a measly 144,000 then the rate would be flat. The question is where they ginned up the 866,000 jobs they just “found.”
The BLS numbers stink like a rotten red herring.
See if they ring true to you.
Number of new jobs created = 114,000
Reduction in unemployment from 8.1% to 7.8%
Decrease in unemployed = 456,000
Rise in total employment = 873,000
Number of unemployed persons drops from 12,544,000 to 12,088,000
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
BLS Employment Situation Summary:
http://www.bls.gov/news.release/empsit.nr0.htm
http://www.bls.gov/news.release/pdf/empsit.pdf
“The unemployment rate decreased to 7.8 percent in September”
“Total nonfarm payroll employment rose by 114,000, the U.S. Bureau of Labor Statistics reported”
“Total employment rose by 873,000 in September, following 3 months of little change.”
“The unemployment rate declined by 0.3 percentage point to 7.8 percent in September.”
“The number of unemployed persons, at 12.1 million, decreased by 456,000 in September. (See table A-1.)”