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114,000 New Jobs Lowers Jobless Rate By .3%?

From an unquestioning Associated Press:

US jobless rate falls to 7.8 pct., 44-month low

US unemployment rate falls to 7.8 pct. in September, lowest since Jan. 2009; hiring increases

By Christopher s. Rugaber | Fri October 5, 2012

Notice how the AP was so giddy at this news, they even added a rarely used a sub-headline.

WASHINGTON (AP) — The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years.

In fact, this alleged new rate is exactly the same rate that unemployment was when Obama took office in January 2009. What are the odds?

The rate fell because more people found work, a trend that could impact the presidential election.

In fact, this is the second to last jobs report before the election. And given early voting, it is probably the most important in the election cycle. So naturally every effort was made to make it look good.

The Labor Department says employers added 114,000 jobs in September.

So we are supposed to believe that the addition of a measly 114,000 jobs made the unemployment rate drop .3%?

Lest we forget, according to the AP before the August report was issued last month, "Economists expected [that] an addition of 125,000 total nonfarm jobs in August… would leave the unemployment rate unchanged at 8.3 percent."

But magically 96,000 more jobs in August lowered the jobless rate by .2% in August. And now 114,000 jobs lowers it another .3%. It’s magic.

The economy also created 86,000 more jobs in July and August than first estimated. Wages rose in September and more people started looking for work.

So more people are looking for work, rejoined the workforce, and the jobless rate still went down?

The revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months.

The weekly unemployment rate (which is based upon real numbers and not a ‘poll’ have been revised for the worse for 82 out of the last 83 weeks. And yet the monthly jobs number for the last three has been revised for the better?

How is that possible?

The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office.

The decline could help Obama, who is coming off a disappointing debate against Mitt Romney.

Isn’t it funny how that works.

By the way, the former former CEO of General Electric has noticed.

Via, Business Insider:

JACK WELCH: Obama Is Manipulating The Jobs Numbers Because His Debate Performance Was Awful

Brett LoGiurato | October 5, 2012

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:

By the way, remember that this report is just based on the Bureau Of Labor Statistics’ ‘household survey.’ In other words, it is just another poll.

And we now know how far pollsters will go to skew things to help Obama.

This article was posted by Steve on Friday, October 5th, 2012. Comments are currently closed.

4 Responses to “114,000 New Jobs Lowers Jobless Rate By .3%?”

  1. BannedbytheTaliban says:

    0.3% of the labor force (apporximately 155 million) would be 465,000 jobs. So if the unemployment number went down 0.3% and only 114,000 jobs were added, then 351,000 people gave up looking for a job. Even if you subtract the extra 67,000 people from the previous months (63,000 of which were government jobs) that would leave 284,000 people leaving the labor force. This also assumes that no one turned 18, graduated from college, left the military, i.e. entered the work force increasing the number in the labor force. Something is rotten in Denmark.

    Numbers for the BLS http://www.dlt.ri.gov/lmi/laus/us/usadj.htm. Based on these numbers the labor force grew by 418,000, the number of employed grew by 873,000 (difference being 455,000 less unemployed or 0.3%). These are the numbers they used to calculate the rate (12.088 million employed/155 million in the labor force). I’m not sure how 114,000 jobs adds 873,000 to the employed column, but somehow those are the numbers, below the magic number of 8%.

  2. mr_bill says:

    Setting these numbers as a constant proportion, it would only take 3,078,000 jobs to move the unemployment number from 8.1% to 0.0%. I think some unemployed people (about 9 million of them) would still be unemployed, even with that kind of job growth. With nerobama and joe Bite-me claiming to have “created” over 5 million jobs, we should have hit zero unemployment years ago. There’s just this stubborn thing called “reality” standing in the way of their claims and the today’s unemployment report.

    Payrolls have been trending down, GDP has been trending down, U-6 has been up or stable, energy costs are up, wholesale orders are down, durable goods orders are down, and new unemployment claims are up. Somehow despite every single indicator moving in the opposite direction, we’re supposed to believe that employment is sharply up???!!! Why not just declare unemployment to be zero? There isn’t any value in the numbers when they’re cooked this much.

    I thought about it this morning and it suddenly dawned on me that the report would show unemployment magically moving into the 7% range. I figured they would go for a full percent, but I guess they settled on a third of that, for appearances sake…or “optics.”

  3. Rusty Shackleford says:

    Lies, damned lies and statistics.

  4. Tater Salad says:

    The Obama administration has again, “cooked
    the numbers” and he will tell everyone that “we are moving forward”.
    Something isn’t adding up America other than for Christmas hiring
    prospects. The economy lost 16,000 manufacturing jobs the last month.
    You figure it out.

    1. http://www.independentsentinel.com/2012/10/how-did-they-get-unemployment-to-7-8-its-worse-than-it-looks
    2. http://weaselzippers.us/2012/10/05/unemployment-rate-miraculously-drops-to-7-8-114k-jobs-added/
    3. http://www.theblaze.com/stories/influential-september-jobs-report-unemployment-drops-to-7-8/comment-page-9

    4. http://therealrevo.com/blog/?p=85043#comment-119332
    5. http://dancingczars.wordpress.com/2012/10/05/cooking-the-books-or-just-picking-the-numbers-to-suit-the-cause/

    Finally, The Bureau of Labor Statistics where these “fuzzy figures” are coming from….We have this! Two executives for the Bureau are Barack Obama donors.

    Among all unemployed persons, the proportion who had been jobless for 27 weeks or longer was 40.1percent, essentially unchanged from the prior month but down from44.7 percent a year earlier.

    Christmas hiring prospects:
    Among the employed, the number of involuntary part time workers increased by 582,000 to 8.6 million in September.

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