Posted on 10/11/2012 4:19:09 PM PDT by trappedincanuckistan
How Stupid Do They Think We Are? The BLS reported last Friday that the economy in September created all of 114,000 net new jobs, just 104,000 in the private sector. To give you some context for how great that is, the working age population increased by 206,000 in September. With a labor force participation rate normal for the fourth year of a recovery (where we are right now), just keeping pace with that population growth would require 138,000 new jobs, before we can even start to reduce the unemployment rate.
Indeed, since Obama became President, the working age population has increased by 8.4 million. At the same labor force participation rate as when Obama entered office, that would require 5.52 million new jobs just to keep pace with that population growth. The total number of net new jobs created since Obama became President according to the BLS: 787,000.
But not to worry. The BLS also reported on Friday that the number of full time jobs actually declined last month by 216,000. Thank you, President Obama. You are doing a great job. Socialism is finally working. Forward. Why would we ever consider turning back now?
So how did the reported unemployment rate fall to 7.8%, down from 8.1% in August, and 8.3% in July? That is because the BLS (might consider dropping the L) also reported that the separate Household Survey, on which the unemployment rate is based, found a giant 873,000 jump in jobs last month, the biggest one month increase in nearly 30 years! That makes sense because the same survey found a decline in jobs of 119,000 in August and 195,000 in July.
(Excerpt) Read more at spectator.org ...
New BLS motto:
“The difficult report we produce immediately, the impossible report takes to just before the election.”
Great column!!
Put that Hilda Solis and Obama in prison for fraud.
No need for an investigation. It is well known fact that Obama puts the ‘L’ in BS. What needs to be done is to eliminate the BLS and balance the budget. There are a number of private labor surveys that meet the same needs as the BLS and they have paying customers that need to plan business activities on the truth.
BTTT
Part of the 870,000+ ‘new’ jobs can probably be traced back to the Executive Order that Obama signed June 13, 2012. The DREAM Relief order which allowed 1.8 million illegals between the ages of 16-30 to apply for a temporary(2 yr) work permit if certain conditions were met. This allowed many illegals who were already employed to come out of the shadows so to speak. This is shown by the Household Survey tracking of the September employment rate of 20-24 year olds. This statistic has been tracked for every Sept since 1980 and has been negative EVERY year except this Sept when it turned significantly positive. Cause and effect. This also renders the 7.8% rate meaningless in real terms for those who understand math and the economy.
This is a huge story and it’s caused a spike in Obama’s job performance ratings. Mitt needs to have an answer for this that makes sense before the next debate but all I’m hearing is that the numbers don’t make sense. 800,000 new jobs don’t just appear, if it really happened we should be able to figure out why.
First, how many were government hires and how were they distributed amongst areas where dems are in control vs repubs ?
As I remember it, a huge portion of the stimulus was not set to be spent until this summer. Are these part-time jobs stimulus jobs and if so, why did Obama let people suffer through years of high unemployment just to save the stimulus money until right before his election ?
Are these PT jobs a result of hiring boosts for dem campaigns? Look up election jobs on craigslist in any battleground state, or any state for that matter, and you’ll likely see hundreds of ads from hundreds of different groups looking to hire people to help Obama get re-elected. May sound silly but with nearly $1 Trillion ($8,300 per voter) to spend, hiring 500,000 PT workers for a couple of months would be a drop in the bucket. Show up for an interview and they give you $500 bucks, some lame job and remind you that if anyone calls to interview you make sure you tell them you just got a part time job, for Obama’s sake. If you somehow have a way to find out who is going to be interviewed, well, that makes the job a lot easier and less expensive.
Good point, I’ve heard this too. Also have heard that the changes in the definition of work inherent in the changes to the welfare rules may have caused a surge of people claiming that they have done PT work to stay eligible which may be as simple as claiming to have spent time looking for a job.
How Stupid Do They Think We Are?
Who's winning American Idol and Dancing with the Starz in between commercials for Viagra and Soma?
That stupid.
And in other news, the chocolate ration will be raised to 28 grams from last week's 45. McCitizens please take note.
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