Last edited by imagep; 10-05-12 at 06:09 PM.
Yea, this trend that you noted is an indicator of the migration of income and wealth from the working poor to higher income earners. It's what is to be expected when we don't have enough "artificial" redistribution of income mechanisms in place. during the 1950's when the upper income level tax rates were much higher, all income classes had about the same rate of income growth.
Without seasonal adjustments, about 875,000 people found jobs in Sept. The 114k figure is seasonally adjusted (more people always go to work in Sept due to farm harvests and Christmas retail hiring). There were also nearly a half million people to re-enter the workforce.
It's incredible that we've had two conservative TRUTHER moments in as many weeks. First there was poll denail, and now it's unemployment percentage denial. GOP hands who have reason to know say STFU and stop embarrassing yourselves.
The jobs numbers truther movement
A cadre of conservatives from Jack Welch to Allen West are crying conspiracy over Friday’s good economic news, accusing the White House of cooking the books to boost President Barack Obama’s prospects for reelection.
The word from Republicans who have worked with the jobs numbers before? Bunk.
“The numbers are put together by trained professionals and in a process that keeps politicians from interfering,” said Douglas Holtz-Eakin, president of the American Action Forum and a chief economic adviser to former President George W. Bush. “Any sort of suggestion to the contrary is wrong.”
Former Bush administration spokesman Tony Fratto took to Twitter to say: “Stop with the dumb conspiracy theories. Good grief.”
The jobs numbers truther movement - Patrick Reis - POLITICO.com
"The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."
-- Adam Smith
CNBC even doubts the numbers. I sense manipulation and I'm not a big conspiracy theory guy. The BLS predicted almost the exact number of jobs gained yet they were off on their unemployment percentage by .5%. How does that happen?
Jobs Growth Rises 114,000 as Rate Slides to 7.8 Percent - US Business News - CNBC
“Mr. Speaker, I once again find myself compelled to vote against the annual budget resolution for a very simple reason: it makes government bigger.” ― Ron Paul
Timid men prefer the calm of despotism to the tempestuous sea of Liberty. – Thomas Jefferson
If there were only 114,000 jobs added it is impossible for unemployment percent to fall from 8.1% to 7.8%.... You would at least have to have 500,000 jobs created.....It looks like someone is cooking the books to help Obama.
"God Bless Our Troops in Harms Way."