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Fewer Jobs Magically Lowers Jobless Rate

From an unquestioning Associated Press:

Employers add 80K jobs, rate dips to 9 pct.

Christopher S. Rugaber, AP Economics Writer
Friday November 4, 2011

WASHINGTON (AP) — Hiring slowed in October as employers faced more uncertainty over future economic growth.

"Hiring slowed" but the unemployment rate went down?

The Labor Department says the economy added 80,000 jobs last month, the fewest in four months and below September’s revised total of 158,000.

The economy added the fewest number of jobs in four months, and even lower than the previous months – and yet the unemployment rate went down? And yet the unemployment rate did not go down in September or August or July — when more jobs were added?

The unemployment rate dipped to 9 percent.

How is this possible unless Obama’s Department of Labor is playing fast and loose with the numbers?

Like Obama says, ‘it’s math.’

Businesses added 104,000 jobs, below September’s total. Government shed 24,000 jobs.

The report included some positive signs. The government revised August and September’s figures upward by 102,000. Average hourly earnings rose.

Now that is news. But we are highly skeptical about it, since these revisions could also from jiggering the workforce numbers.

The report suggests that President Barack Obama will likely face the voters with the highest unemployment rate of any postwar president.

Of course the Bureau Of Labor Statistics report does not mention Mr. Obama at all.

But it is the most important issue for the AP.

This article was posted by Steve on Friday, November 4th, 2011. Comments are currently closed.

2 Responses to “Fewer Jobs Magically Lowers Jobless Rate”

  1. Astravogel says:

    Somewhere in a hidden room in Washington, D.C. there
    is a gigantic dartboard with numbers on it. Whenever a
    forecast or report requiring numbers is needed, a highly
    paid government employee is blindfolded, handed a dart,
    and told in which direction to heave it. The high pay is to
    ensure that this is never mentioned outside that room.

  2. BannedbytheTaliban says:

    The bigger question is how does the rate go down when only 80,000 jobs were added but 200,000 people entered the work force.

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