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View Diary: Jack Welch's Anti-Obama Propaganda on CNBC (15 comments)

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  •  and (0+ / 0-)
    if I were stupid and corrupt, I'd say the economy gained 500,000 or 1,000,000 jobs last month
    and thats what they did.  800,00 new jobs created they just hadnt found before, imagine that.

    Bad is never good until worse happens

    by dark daze on Fri Oct 05, 2012 at 08:04:40 AM PDT

    [ Parent ]

    •  Please remove your tinfoil hat. (0+ / 0-)

      The 800,000 number is from the household survey, NOT the business survey. It reflects the number of people who got jobs, not the number of jobs that were created. That means there were at least 800,000 job openings that were filled last month, and 582,000 of them were part-time seasonal positions. Plus, this is an estimate based on a survey - it will no doubt be revised either up or down next month.

      And this BLS data is not all that unusual. From Ezra Klein this morning:

      We’ve seen drops [in the unemployment rate] like this — and even drops bigger than this — before. Between July and August the unemployment rate dropped from 8.3 percent to 8.1 percent — two-tenths of one percent. November-December of 2011 also saw a .2 percent drop. November-December of 2010 saw a .4 percent drop. This isn’t some incredible aberration. The fact that the unemployment rate broke under the psychologically important 8 percent line is making this number feel bigger to people than it really is.

      ...

      There’s precedent for this. As Daniel Indiviglio notes, part-time jobs increased by 579,000 in September 2010 and by 483,000 in September 2011. It might simply be seasonal hiring. You don’t need to resort to ridiculous theories like Democrats across the country suddenly deciding to lie to surveytakers in order to help Obama.

      "In an individual, selfishness uglifies the soul; for the human species, selfishness is extinction." -Cloud Atlas, by David Mitchell

      by rigcath on Fri Oct 05, 2012 at 11:42:33 AM PDT

      [ Parent ]

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