Skip to comments.Why Gallup’s chief economist says the big drop in the unemployment rate ‘should be discounted’
Posted on 10/08/2012 11:31:50 AM PDT by Olog-hai
You can count pollster Gallup as another observer questioning Fridays job report, in particular the big drop in the unemployment rate. In a blog post, Dennis Jacobe, Gallups chief economist, writes that he seriously doubts whether the economy created nearly 900,000 jobs in September, as measured by the Labor Departments seasonally adjusted household survey.
While the payroll survey of businesses and government showed just 114,000 net new jobs created, the household survey showed a jobs boom, and its the latter which is used to calculate the unemployment rate.
His bottom line: The Household results should be discounted.
The obvious conclusion is that a new employment measure is needed.
(Excerpt) Read more at aei-ideas.org ...
In order for the U3 number to be real. GDP would have had to grown at over 4%.
Because it defies logic?
...we made them up.
The Dept. of Labor
The Dictator in Chief and his thugs think the majority of We The People are morons like the ObamaPhone recipient on video that Rush keeps playing the audio of.
That is what Jack Welsh said. In order for that drop to occur the GDP would have to be 5%
No kidding! Look at the chart of nonfarm jobs versus household survey here:
Betty Crocker couldn’t have done a better job cooking the books.
An alternate view is that the jobs were created over a number of months but not yet counted; finally, as the seasonal corrections were updated the jobs were counted. But in no case were the jobs really created all in one month.
He should just say it simply.
‘Obama lied to get good headlines before the election’
Axelrod has suggested in a TV interview -- again-- ...
....that the regime investigate/fule suit (p-u-n-i-s-h-) against Gallup... again...
Because they won't toe the line on spiking unfavorable poll results....
...Cooking the poll numbers therefore-- to always appear favorable to The One...
Doesn’t matter. The “word” - lower unemployment - is out and the Obamaphone people are buying it.
I suppose Eric Holder now is gonna double-down on whatever Gallup was being investigated for.
$50 Million Government Polling Contract with Gallup Attracts Scrutiny
From fund raising to diplomacy that caused a death of an ambassador, from gun running to fake job numbers, from solandra to NAZI EPA experiments....and the list just goes on and on.
What if the Republicans decided to expose everything the dems have done to leave a very blackened dem party??? I have been one who has said Romney would win all along....I am not sure dems can allow it. If the republicans only go in and expose the fraud in the jobs numbers just so they have real numbers to work with when elected, think about what that would do to this democrat party and the media who did not do their job....then multiply that by every department out there.
This is a mess.
I believe allowing young 16-30 year/old illegals to apply for work permits early this summer distorted the U-3. That executive order affected nearly 1.8 million illegals, many of whom were already working ‘under-the-table’. They are now counted as legally employed. Presto! U-3 declines! However the real job situation is still deteriorating.
So far the majority is not moron but at least 35% are. Thus, we must constantly watch for 15% straying into moronity.
B0mma ph0ne is free!
The seasonal ‘corrections’ was probably where the fudging occurred, IMO.
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