Skip to comments.October jobless rate is 7.9 percent: 171,000 jobs created. Good news for Obama (Desperation spin)
Posted on 11/02/2012 7:42:08 AM PDT by Qbert
COLUMBUS, Ohio--The last jobs report before the election was out Friday morning and the 7.9 percent October rate--virtually unchanged from last month--by not jumping to 8 percent--is a break for President Barack Obama. If the number had gone higher--it would have given Mitt Romney at last chance before the Tuesday balloting to mount a strong argument about Obama's tenure over the economy.
The Obama team will be able to argue that there has been 32 months of job growth and the number of "discouraged workers"-- workplace dropouts--has declined. Romney has been hitting Obama on that point.
The Bureau of Labor Statistics said 171,00 jobs were created last month. The 8 percent figure has become a political football--Obama had said that unemployment would drop below 8 in order to get his stimulus bill passed.
In October, 2.4 million persons were marginally attached to the labor force, little different from a year earlier. (These data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)
(Excerpt) Read more at blogs.suntimes.com ...
I wonder if Ty Wood’s father cares.
I predict that all the public is going to remember about the data released today is that the unemployment rate WENT UP!
The media can try to spin this any way they want, but people are just going to notice that the overall is higher, and is going in the wrong direction.
This is definitely not helpful to Obama—no matter what the MSM says.
It’s kind of like when you pay $99.99 for something instead of $100.00. LOL! Hey! It’s less than a hundred bucks! The “voter” zombies in this country crack me up.
... Instead of politicians doling out money behind a veil of secrecy, decisions about where we invest will be made transparently, and informed by independent experts wherever possible. Every American will be able to hold Washington accountable for these decisions by going online to see how and where their taxpayer dollars are being spent. And as I announced yesterday, we will launch an unprecedented effort to eliminate unwise and unnecessary spending that has never been more unaffordable for our nation and our children's future than it is right now. ... excerpt from pre-inauguration speech at GMU...
Solyndra, of course...!
You have to know that the BLS was under pressure from the regime to make the figures look as good as possible and the rate still rose.
I guess the 0bama "Good News" is that they didn't quote the REAL unemployment rate, which is probably somewhere north of 20%. The Bad News for Barry is that those who are unemployed still vote, and we have all day to go to the polls!
That is a straight up lie. What the President said was that if stimulus passed unemployment would never go above 8%. His other prediction was 5.6 % unemployment by now.
RNC should run that “Around the Kitchen Table” ad until election day. People know in reality there is no improvement.
Good news on Bizarro Earth.
The unemployment rate will be adjusted upward to reality after the election. This administration has been consistent in reporting fake numbers for the headlines and then quietly sneaking out the real numbers later. Why should this month’s report be any different?
Has there been a single 0bama unemployment report issued that was then adjusted later to provide a better outlook? I don’t believe so, because far fewer people pay attention to the adjustment report.
Real U3 unemployment isw probably somewhere around 8.2% and real U6 unemployment is probably north of 13%.
“The 8 percent figure has become a political football—Obama had said that unemployment would drop below 8 in order to get his stimulus bill passed. “
Thats NOT what they said. I cant stand this revisionist history. They said if we passed the stimulus unemployment wouldnt go ABOVE 8 %.
They always adjust them up the following week.
"The unemployment rate will be adjusted upward to reality after the election. This administration has been consistent in reporting fake numbers for the headlines and then quietly sneaking out the real numbers later. Why should this months report be any different?"
Yep. Or think about it a different way: This is an administration that flat out lied to the American people for weeks that Benghazi was the result of some anti-Islam movie. Do they honestly expect people to believe anything else that they say?...
Another Radical Obama Nominee
Matthew Vadum September 3, 2012
A real communist, Erica L. Groshen, enough to make you sick. Nominated by Obama as Commissioner of Labor Statistics. Her job will be to release a favorable Jobs Report just a few days before the election.
Among the subjects Groshen taught while a graduate student at Harvard University were Labor Economics, Trade Unions, and Collective Bargaining. Groshen has studied wages extensively along with economic inequality, a perennial, pathological obsession of the Left.
She is openly hostile to small business. Groshen co-authored a 1998 report titled, Small Consolation: The Dubious Benefits of Small Business for Job Growth and Wages, for the leftist, union-backed Economic Policy Institute (whose president, Lawrence Mishel, is a longtime member of the Democratic Socialists of America, a neo-communist group).
Groshen suggested small businesses unfairly exploit their workers. [T]he average small firm gains some competitive advantage (relative to the average large firm) from the low pay, inferior benefits, and reduced job security it offers employees, she wrote. The paper concludes:
Every freakin paper in America is trying to spin this thing Obamas way.
They can try, but this is a steaming pile that won’t spin.
Actually, he said that if the stimulus wasn't passed, unemployment would go over 8%. It was passed, and unemployment was never below 8% for four years until last month.
The Bureau of Labor Statistics released the October jobs report today showing that the labor market has only gotten worse since President Obama was sworn into office.
The number of unemployed Americans rose by 170,000 in October and the unemployment rate rose to 7.9 percent. When Obama was inaugurated in January 2009 unemployment was just 7.8 percent.
Overall the number of unemployed Americans is up by 209,000 since Obama took office.