The Romney Jobs Bump

My pea brain | 10/5/2012 | Solson

[American Constitutionalist]

" ...which would be where Reid and his party would be caught between a rock and a hard place when they are forced to vote AGAINST that extra aid to help those struggling to find a job in this miserable economy. "

Yes, do it and let the Democrats in Congress squirm.... do it now so the Republicans can make the Democrats look bad.

[FredZarguna]

It's baloney.

They've been able to cook the books by using a very soft household survey component for part-time jobs; that's all. Your reasoning is faulty; the numbers are supposed to be seasonally adjusted, and, if anything September is a month of declining jobs as students and other seasonal workers head out of the job market.

Economists predicted there would be between 110-120,000 net new jobs in September, and because the economy must create roughly 205,000 new jobs per month to move the UE number down -0.1, the UE number would likely remain unchanged or increase to 8.2 if we had that number of new jobs. The BLS itself projected 115,000. The actual number was 114,000. The Underemployment number remained unchanged at 14.7%. The survey of employers going into the fourth quarter says most have not hired new workers in the past year, will not hire workers in the next quarter, and if anything intend to let people go. Manufacturing has had its worst two consecutive months since 0bama took office.

Part of the Fed's rationale for QE3 was that the jobs numbers were not where they needed to be, and they anticipated keeping interest rates steady (low) through mid-2015 and doing more easing to produce jobs. What has changed since the Fed QE3 announcement? Nothing except what happened on Wednesday Night.

These numbers cannot possibly be real and everyone knows it.

[JPJones]

wow, So this september was the first time in 32 years employment actually increased for 20-24 years olds....hmmmm nothing suspicious there.