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Fewer Jobs Added In Sept, Oct Shutdown Blamed

From the Associated Press:

US employers add 148K jobs; rate falls to 7.2 pct.

By CHRISTOPHER S. RUGABER | October 22, 2013

WASHINGTON (AP) — The U.S. economy added just 148,000 jobs in September, suggesting that employers held back on hiring before a 16-day partial government shutdown began Oct. 1.

Hilarious. Yes, employers wanted to hire people, but they knew there was going to be a 17% government shutdown that would just cripple their business, so they refrained.

Still, hiring last month was enough to lower the unemployment rate.

What a lie. Hiring did not lower the unemployment. It almost never has under Obama. The unemployment rate went down because people are still giving up and leaving the workforce.

The Labor Department said Tuesday that the rate fell to 7.2 percent from 7.3 percent in August…

We used to be told that there had to be at least 150,000 new hires just to keep the unemployment rate steady, because of the population increase. Now the jobless rate goes down magically with just a measly 140,000 new jobs.

Tuesday’s release of the September jobs report had been delayed 2 1/2 weeks by the shutdown, which likely further depressed economic growth and hiring…

The AP is laying in their excuses in advance.

Temporary layoffs of federal workers and government contractors will probably lower October’s job gain.

Which otherwise would have been spectacular! Even though no one was really laid off. That is, everyone got paid — plus unemployment benefits.

Many economists say they won’t have a clear reading on hiring and unemployment until the November jobs report is issued in early December…

When have the AP or Reuters’ analysts ever had a clear reading?

In fact, earlier this morning they were predicting things like this, via Reuters:

U.S. job growth seen having revved up before budget fight hit

By Lucia Mutikani | October 22, 2013

WASHINGTON (Reuters) – U.S. job growth likely picked up a bit in September, suggesting the economy enjoyed rising momentum before an acrimonious budget fight in Washington took some of the wind out of its sails.

Nonfarm payrolls are expected to have increased by 180,000 workers, a step up from August’s gain of 169,000, according to a Reuters survey of economists. The unemployment rate is seen having held steady at a near five-year low of 7.3 percent…

Note that Reuters said unemployment would "remain steady" with 180,000 new hires, and yet the rate went down with only 140,000 new jobs. Isn’t Obama-nomics magical?

The unemployment rate has declined 0.6 percentage point so far this year, though some of the decrease has been because people are dropping out of the labor force, partly due to frustration over dim job prospects.

Not "some of the decrease," all of the decrease.

This article was posted by Steve on Tuesday, October 22nd, 2013. Comments are currently closed.

2 Responses to “Fewer Jobs Added In Sept, Oct Shutdown Blamed”

  1. Noyzmakr says:

    The ‘New Normal’ has killed America. Even the revisionists won’t be able to put lipstick on this pig.

  2. GetBackJack says:

    I was so sure these numbers would be good.

    (but then, I’m huffing nitrous oxide at the moment, so my judgement may be impaired)

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