Obama said it, it's math. Unemployment took an amazing .3% drop this month. The claim was 114, 000 new jobs added. Well here is the report, you do the math.......
In September, 2.5 million persons were marginally attached to the labor force,
essentially unchanged from a year earlier. (These data are not seasonally
adjusted.) These individuals were not in the labor force, wanted and were
available for work, and had looked for a job sometime in the prior 12 months.
They were not counted as unemployed because they had not searched for work
in the 4 weeks preceding the survey. (See table A-16.)
Among the marginally attached, there were 802,000 discouraged workers in
September, a decline of 235,000 from a year earlier. (These data are not
seasonally adjusted.) Discouraged workers are persons not currently looking
for work because they believe no jobs are available for them. The remaining
1.7 million persons marginally attached to the labor force in September had
not searched for work in the 4 weeks preceding the survey for reasons such
as school attendance or family responsibilities. (See table A-16.)
Establishment Survey Data
Total nonfarm payroll employment increased by 114,000 in September. In 2012,
employment growth has averaged 146,000 per month, compared with an average monthly gain of 153,000 in 2011. In September, employment rose in health care and in transportation and warehousing. (See table B-1.)
Health care added 44,000 jobs in September. Job gains continued in ambulatory health care services (+30,000) and hospitals (+8,000). Over the past year, employment in health care has risen by 295,000.
In September, employment increased by 17,000 in transportation and warehousing. Within the industry, there were job gains in transit and ground passenger transportation (+9,000) and in warehousing and storage (+4,000).
Employment in financial activities edged up in September (+13,000), reflecting
modest job growth in credit intermediation (+6,000) and real estate (+7,000).
Manufacturing employment edged down in September (-16,000). On net, manufacturing employment has been unchanged since April. In September, job losses occurred in computer and electronic products (-6,000) and in printing and related activities (-3,000).
Employment in other major industries, including mining and logging, construction, wholesale trade, retail trade, information, professional and business services, leisure and hospitality, and government, showed little change over the month.
44,000 +17,000 +13,000 -16,000= 58,000 HMMM, wheres the 114,000?
In addition, is the section listing all the divisions where they said there was little to no change despite layoffs that occurred in those sectors over the last 2 months. We also know that several of those sectors will be laying of more over the next few months ,
How does it add up for you?
Looking at what the BLS is trying to pull in the area of smoke and mirrors my answer is "NO." The participation rate is what I pay attention to anymore because the cooking of the books goes on. The economy added 114,000 jobs which doesn't keep up with the population rate. So how is that the percentage goes down? Only by slight of numbers. BLS is adding in a totally different database which is reporting a labor addition of 800,000+ jobs in September. The whole thing stinks to high heaven of administration politics for the coming election. Should it make anyone feel good? Hell no.
"The BLS reported that while only 114,000 jobs were created in September--which would have translated into a rise in unemployment from 8.1% to 8.2%--the unemployment rate fell dramatically to 7.8%. That unusual drop is the fastest in nearly three decades, and was unexpected even in the rosiest predictions.
One reason for the rise was an upward revision of 86,000 to the July and August jobs numbers--all of which came from a 91,000 increase in the estimate of public sector jobs. Private sector job estimates were actually revised downward by 5,000.
In addition, the BLS reported a large rise in the number of part-time jobs, adding 600,000 jobs to the total--a dramatic increase of 7.5%, not explained by any other economic indicators--and raising questions about whether the government had changed the way it counted part-time workers."
http://www.breitbart.com/Big-Government … Questioned
I don't know how many of them are newly created jobs, but between October 2 - October 5, a total of 1,400,000 additional, different, non-seasonal jobs for USA (mostly IT, Engineering, Sales Reps, Healthcare) were advertized across Internet sources. Most appeared on October 4, 2012 - the day after the first presidential debate. I am wondering how this happened and why.
The jobs report is never accurate. Unemployment in Florida is close to 20%, but official figures put it at around 12%. Just don't get in the line where they are marking everyone's hand with 666. Brace up, they won't let you shop at the stores anymore.
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