Skip to comments.Only Twice Since 1960 has the Unemployment Rate Dropped This Fast in a Two-Month Span
Posted on 10/07/2012 3:44:54 PM PDT by nhwingut
According to the Bureau of Labor Statistics, only two times, since 1960, has the unemployment dropped by 5 percentage points in a two month span.
The first time this happened was in 1984 under President Ronald Reagan (April & May, 1984). The rate went from 7.7 to 7.2. The total jobs created during this 2 month span was 687k. The GDP for the most recent quarter was a whopping 8%.
The only other time (in over 50 years, again) is occurring right now under President Obama (Aug & Sep, 2012). The rate went from 8.3 to 7.8, with a two-month job total of only 256k (128k per month). The GDP for the most recent quarter is a recession-like 1.25.
Think about that again. In over 50 years, starting with President John F. Kennedy, only twice has the unemployment rate dropped by 5 percentage points within a 2-month span.
And we are to believe that one of those times is happening right now - under a president with the worst jobs record in history, one month before the most important election of our time all with a backdrop of anemic GDP and job creation. Oh, and when Obama conveniently needed to get to 7.8% to "break even."
Yet we are mocked for questioning such a report. Right!
yup and you a liar.
A lunatic too. From what I heard on the morning shows today. They have the Alinsky tactics down to a science.
Just to clarify, the measurement is POINT 5 percentage points... (.5) not (5).
And you’re right, this is utter and complete horse crap.
This reminds me of the Jan. ‘96 economic report that claimed that the nation had gained 700K jobs in the month of December. Everyone knew it was bogus, and in fact Robert the Fourth Reich essentially admitted they had guessed.
No difference here. Except of course add that most are part-time and many more have dropped out to give that figure.