The BLS report is made up of several different surveys. The 114,000 job survey is done by contacting businesses. The employment rate survey is done by calling households. The two are only connected in that one would think they would show the same trend and BLS puts them out on the same report.
If one looks at just the new jobs number for September and the upward revisions from the previous months it actually paints a bleak picture.
The average monthly job increase for 2012 is 146,000 jobs. That is down from 153,000 in 2012. The economy is producing less jobs this year than last and none of these numbers look like a recovery.
It gets even worse. The July and August numbers were revised upwards to 181,000 in July and 142,000 in August. That means the three month trend is 181,000, 142,000 and 114,000, a sharp decline in job growth. Even the revised 181,000 July number isn't the kind of job growth expected in a recovery.
The last crusher on this survey is that number of people working part time involuntarily rose by 600,000.
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.
Not much of a recovery for those people.
The Obama stream media will tout the 7.8% number, but this is a mixed jobs report at best. If it was a Republican in office we know how they would be covering it.
By cooking the books, some unemployment extensions will end siince they are based on the unemployment rates in each state.
Romney needs to increase focus immediately on Latino and Hispanic unemployment, which did not budge from 10 percent.
Plus the U-3, U-6 etc