Posted on 10/05/2012 6:05:09 AM PDT by Zakeet
Original Headline: NFP Prints 114K, On Top Of Expectations Of 115K; Unemployment Rate Tumbles To 7.8% On Expectations Of 8.2%
Complete preelection "massaging" farce.
The Labor force participation rate rises from 30 year lows to 63.5% to 63.6%:
The reason: the biggest reported jump in the number of employed people since January 2003, at +873,000 to 142,974. At least according to the Household data survey, which just happens to be used in the calculation of the unemployment rate. Just little bit off from the Establishment survey of +114,000.
The civil service unions came through with their October Surprise ... right on schedule ... just as demanded ... and you right wing nuts better not comment on how the books were cooked and how many jobs were pencil whipped through seasonal adjustments and the birth-death model!
Lesseee... if I want to make my “productivity” look better, I just reduce the expectations...
The level of manipulation in the data used for today’s print is staggering. Desperation leads to curious events, this is a prime example. Complete and utter BS, but then again the employment numbers have been manipulated for so long that I doubt they even have a clue what the true situation on the street is. I’m convinced it has degraded to the point of merely pulling numbers out of their a$$es.
VERY convenient!
This is the October surprise. And the media scum are tweeting away.
I am still confused about the 800k number. What is that... Is that the number of people working from home or something? And it oddly jumps to its highest level in 30 years, one month before election to conveniently get unemployment under 8%.
If the GOP had balls they would demand an investigation.
We’re still being flooded with thousands of unemployed Yankee losers here in Central NC. They’re a sorry lot, whose quality is steadily dropping from the looks of them. That might be a good sign: the decent people are picking up jobs elsewhere.
My BIL in NJ says things are going pretty well there, and my best friend in Idaho says their invasions of Californians has slowed down.
Just anecdotal evidence...
They admit to going back 6 months and “finding” more jobs than reported after each week revising the announced figure of UE upward!
My guess is the BLS went back and calculated according to the ^unrevised^ numbers then called them “jobs found” rather than calculations based on the initial, unrevised numbers.
Joe Stalin would be proud.
Fake numbers ... yeah, but the idiot American public will believe it as they usually do.
Zero will win big this Nov. count on it.
It will be “Happy days are here again” all over the TV and the mindless droids (formally known as the American people) will soak it up like the sponges they are.
“Never under estimate the stupidity of the American people”.
REUTERS: “A survey of households from which the jobless rate is derived showed 873,000 job gains last month, the most since June 1983.”
Virtually all "part time"! Did the definition pg "part time change?
Employed persons at work part time Part time for economic reasons 9,270 8,246 8,031 8,613 582 Slack work or business conditions 5,900 5,342 5,217 5,523 306
THE ROMNEY RALLY HAS BEGUN !
A bunch of lying Chicago thugs. Everyone on Free Republic predicted back in January that the BLS under Obama’s direction would manipulate the unemployment numbers to below 8% by election, but this decrease is so extreme that even many of his sycophants have to see the manipulation.
Jack Welch predicted this bs from the Chicago thugs in charge of the outhouse.
http://www.freerepublic.com/focus/f-news/2940609/posts
JACK WELCH: Obama Is Manipulating The Jobs Numbers Because His Debate Performance Was Awful
Business Insider ^ | 10/05/2012 | Brett LoGiurato
Posted on Friday, October 05, 2012 6:56:20 AM by SeekAndFind
Former GE CEO Jack Welch’s reaction to non-farm payrolls adding 114,000 new jobs in September and the unemployment rate falling to 7.8 percent:
During the past few years, the Chicago Criminals have told their underlings to put the unemployed on Social Security Disability.
That drives the unemployment number down and is causing severe financial problems in states like California:
http://www.freerepublic.com/focus/f-bloggers/2938339/posts
Transfer of Unemployed to Social Security’s Disability Program is Further Bankrupting California
Confounded Interest ^ | 09/30/2012 | Anthony B. Sanders
Posted on Sunday, September 30, 2012 11:32:28 AM by whitedog57
The latest California community to face bankruptcy is Atwater, just down the Golden State Highway from Modesto and next to Merced. Atwater, like its neighbors Modesto and Merced, are still reeling from the crash of the housing market where prices have fallen about 70% from their peak. And unemployment rates are roughly twice the national average.
Since I don’t have the house price indices for Modesto, Merced and Atwater, I will use the Case-Shiller Las Vegas house price index as a proxy.
Like many communities during the housing bubble, expenditures were made based on increased property tax revenue. When the housing bubble burst with a vengeance, the expenditures (buildings, salaries and pensions) remained and the revenues plunged leaving these communities with a fiscal nightmare.
Can these communities be salvaged? Of course, either new revenues have to be raised (taxes), budgets cuts (workforce and pensions) or a combination of both.
First, wages as a percentage of GDP has been falling since 1970. This does not bode well for supporting community budgets since housing recovery will be slowed by lower wage income.
Third, last week’s durable goods orders collapse was bad news for Q3 GDP. Collapses in consumer goods orders are associated with recessions.
While many communities weathered the fiscal storm of 2008-2010, the macro numbers for wages, employment and durable good production indicate that many communities will far further into fiscal trouble.
Add to these woes, The Obama Administration has taken people off of unemployment and put them into disability. Medicaid in California has grown $27.1 to $38.8 billion, an $11.7 billion increase over just the last five years. California’s fiscal condition is deteriorating before their eyes.
At least house prices have seemingly stabilized in much of the country which is good news for communities.
OOPS forgot some zeroes and one piece of info.
Table A-1
http://www.bls.gov/news.release/empsit.t01.htm
Civilian Labor force
Not Seasonally Adjusted
155,255,000 - 155,075,000 = -180,000
Now apply the magic of seasonal adjustment
-180,000 becomes + 418.000
Participation rate
Not seasonally adjusted
63.7 - 63.6 = -0.1
Now apply the magic of seasonal adjustment
-0.1 becomes +0.1
Employed
Not Seasonally adjusted
143,333,000 - 140,107,000 = -3,226
Now apply the magic of seasonal adjustment
-3,226 becomes +873,000
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.