Former GE chairman Jack Welch said it right, "if you can't debate change the unemployment rate."
114K jobs were created in September and the unemployment rate dropped from 8.1% to 7.8% ?
THE REV HAD A GOOD LAUGH SEEING THE BOGUS NUMBERS FROM THE BLS. THEY ARE TRYING REAL HARD TO HELP THE DUNCE IN THE WHITE HOUSE.
Listen up! In order for the rate to drop from 8.1% to 7.8% 456,000 jobs had to be created---only 114,000 jobs were created----what happened to the other 342,000 people ?
I guess they vanished.
Rev
Don't be so hard on Obama ..Even if the unemployment rate dropped to 7.8% it was 7.7% when he took office. I hate to be over 'analytical' but you can't dodge numbers.
The numbers are cooked. They make 60k phone-calls and extrapolate over 100 mio workforce. If you were to take a more macro view, to help corroborate the bottom-up figures, then you have more credibility.
If you were to take the labor participation rate which has filtered out retired and FT college, and benchmark against the better years (Clinton/Bush) etc, the unemployment rate is 11%. So basically we are somewhere between those figures. I think it's more to the higher number as there is enormous room for error extrapolating the results of 60k over 100 mio.