Skip to comments.Reason For Today's Unemployment Rate Plunge: Part-Time Jobs For Economic (trunc)
Posted on 10/05/2012 6:23:29 AM PDT by Perdogg
We already noted the absolutely stunning surge in reported Household Survey jobs which "added" 873,000 jobs, or the most since 2003 and the second most in the past decade, which was just a little bit off the Household Survey used in the monthly NFP jobs changes, which came at 114,000, or about 8 times less.
(Excerpt) Read more at zerohedge.com ...
The reason is massive corruption and cooked books.
Unemployed/Underemployed actually increased from 25.8 to 26.2.
No, the real reason is the Hussein Regime’s outright criminality..
Yep. Numbers were baked into the cake.
Real unemployment number:
Note the divergence of blue line from BLS “adjusted” lines beginning in 2009.
Obots at work.
And unreality echoes across the land. In this strange world on the other side of the Looking-glass, the comparisons used by Al Gore reverberate. ‘Everything
that should be up is down! And everything that should be down - is up!’
Nothing like staying on message. Of course, it does require the application of some extremely creative mathematics.
Could this be the October surprise?
The news here is one of two massive stories. The first possibility is a long-standing statitical algorithm has a basic flaw undiscovered until now that allows 873,000 people to find work in an economy that only created 114,000 new jobs.
The second is that there is an unbelievable level of desperation in the current administration, so unbelievable that they would take a huge chance at cooking the books to this degree when it will be so easy to find out what they did in a month or two.
The answer is simple. “It’s Math. It’s Arithmetic.” The numbers just don’t add up.
Un noticed in the aggregate holiday jobs hiring number is the component “accrued mid November hires”.
These are the theoretical number of applications accepted for actual coming on board in mid November. The acceptance of the application for hiring by a known date is deemed to be a current job.
The accrued applications are thus real current jobs.
Soviet planners were notorious for cooking their data to “prove” the socialist paradise was barreling along.
From the look of these numbers, more discouraged workers have abandoned their job search. That makes the existing employment rate “look” better as a percent of labor force participation rate.
Nobody is participating — they gave up looking. Voila, we have full employment of the surviving few.
After all this time, and all those promises, and all that spending and debt, and that cool chart, it’s a whopping .1% lower than when he took office...
This is the math Obama was talking about in the debate.
This Obama POS socialist is a corrupt dictator.
We must vote for Mitt Romney to get rid of this cancer called Obama. Donate to Romney or volunteer to call people in swing states.If you value freedom, or America or even your own life get this POS Obama out of office. The time is now.
Romney destroys and exposes this socialist pos Obama and so they put out this fake number . It's an October surprise and to get the news off of the debate trouncing the crap called Obama got.Rush predicted this October surprise numbers a year ago
There’s a third story as well: the willingness to compromise official government data in a way that will destroy institutional credibility in the near, mid and long term.
The negative impact of this can’t be understated. BLS numbers can no longer be seen as credible, and therefore cannot be used for legitimate decision making purposes.
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*
O won’t be happy until everyone has a part-time job.