Posted on 10/05/2012 5:44:02 AM PDT by Oldeconomybuyer
WASHINGTON (AP) — The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The rate fell because more people found work, a trend that could impact the presidential election.
(Excerpt) Read more at news.yahoo.com ...
The Obama administration has added 10,000 civilian workers to the federal government’s payroll since July, according to BLS. In that month, the federal government employed 2,804,000 civilian workers. In August, that increased to 2,810,000. And, in September, the number of civilian federal employees increased again to 2,814,000
Bloomberg is citing part-time work as the factor driving the Household Survey as well.
October surprise
subject to revision/correction in 2 months
Is there a lag on this? Does this reflect the summer’s seasonal workers?
“Now watch as the media explodes with enthusiasm, and promotes the new meme: Obama saved us and earned a second term.”
Who cares about the BS media. It’s now the most mistrusted institution in America with only 9% of Americans believing their BS. This report is another nail in the MSM coffin.
Now we know why Obama had that bemused smirk on his face. BLS always gives the adminimstration a heads up on the numbers. Obama knew this information the night of the debate. He thinks it will insulate him from the poor economy and high unemployment criticism and guarantee his reelection.
LLOLOLOLOLOLOLOL.....
...........and Obama asked Mitt in the first debate “ do your math”! heee heeee
This was all driven by part-time work. Burger flippers.
That should be the response - these are not career jobs, part time jobs.
Exactly right...
Watch soros too..
The crisis had his hands all over it.
These people have “0” credibility when they keep “revising” prior months every month, come next month and December, you will see this FAKE number revised yet again to a lower number. This entire administration and government are running on solely on LIES!!! What a crime!
So in one month we went from nothing to 1983 Reagan boom numbers?
Unbelievable.
I guess next week I can go see Atlas Shrugged Part 2 or just turn on the TV watch it happen in real-time.
At the very end, this is interesting:
Still, many of the jobs the economy added last month were part time. The number of people with part-time jobs who wanted full-time work rose 7.5 percent to 8.6 million.
I am one of those.
I didn't notice mention of the labor participation rate.
amazing....the Oct. surprise will be a series of misleading facts to prop up the economy and make Mitt look disconnected 1) the 47% video 2)unemployment cooked to be under 8%.. next?
Love Jack Welch :)
So in other words, over 600,000 of those allegedly created jobs last month were part time.
Here's a peculiar statistical aberration:
Household Survey people employed: +873,000 (source)
Part-time jobs for economic reasons: +582,000 (source)
-> 582,000 divided by 873,000 = 0.666666666666*
Aka: precisely two thirds. Whatever are the odds...
Happy days are here again - just have to believe in Big Media!
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