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Thread: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Good Job everybody.
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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    The number is about bad math, not jobs. Obama's dismal performance at the debate needed something to counter and divert. So, a new unemployment figure. This takes the talking point of 43 months of over 8% unemployment off the table.

    It seems to me like someone in the Obama group has a basket of these tidbits that are reserved and trotted out whenever necessary. Thus we get Zimmerman, a months old case which had already been resolved, the muslim video, a months old very poor video which has had no impact for months suddenly being touted as the cause of massive anti American riots and direct invasions of our sovereign ground in the mid east, just in time to divert from the real cause. Mitts taxes, a non story. The list goes on. Now conveniently when Obama needs another diversion, new unemployment numbers, which will be revised upward after the damage is done.

    It is going to be interesting to see what is on the table for the necessary diversion after the Biden - Ryan debates.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Rainman05 View Post
    I would like to know what those jobs are... and if they are jobs that can bring people into the middle class or not. If not, then its a very, very small victory...
    Not sure if this is what you were looking for:

    Of the 114,000 new net jobs added in September, healthcare accounted for 44,000, while transportation increased by 17,000 and financial services grew by 13,000. That included a gain of 7,000 jobs in the real estate sector, another sign of a recovering housing market.

    Manufacturing, however, lost 16,000 jobs, underscoring the slowdown in exports and business investments.

    Unemployment falls sharply to 7.8%, a 3 1/2-year low - latimes.com
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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Erod View Post
    Desperate manipulation of numbers at its finest.

    Plus, any jobs improvement at this point is from the private sector anticipating a change in the presidency in the offing.
    Then the private sector must have been anticipating a new president for the last 2.5 years since the private sector has added some 5 million jobs over that period for 31 consecutive months of growth.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by donsutherland1 View Post
    The report contained some indications of improvement e.g. the increase in hourly earnings. A big boost in part-time jobs led to the large drop in the headline unemployment rate. If one looks at the broadest measure of the employment situation (U-6) that takes into consideration people who are employed part-time for economic reasons, that measure remained unchanged at 14.7%.

    /snip
    Not sure if you know this, but I figured I would ask since you brought it up. Does the increase in hourly earnings take inflation into consideration?
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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by jimbo View Post
    The number is about bad math, not jobs. Obama's dismal performance at the debate needed something to counter and divert. So, a new unemployment figure. This takes the talking point of 43 months of over 8% unemployment off the table.

    It seems to me like someone in the Obama group has a basket of these tidbits that are reserved and trotted out whenever necessary. Thus we get Zimmerman, a months old case which had already been resolved, the muslim video, a months old very poor video which has had no impact for months suddenly being touted as the cause of massive anti American riots and direct invasions of our sovereign ground in the mid east, just in time to divert from the real cause. Mitts taxes, a non story. The list goes on. Now conveniently when Obama needs another diversion, new unemployment numbers, which will be revised upward after the damage is done.

    It is going to be interesting to see what is on the table for the necessary diversion after the Biden - Ryan debates.
    Rigth, this is standard conservative fair; if reality doesn't mesh with your precooked world view then reality must be wrong. Thus we see that temperatures aren't really rising, the polls aren't really what the polls are, and the employment numbers aren't really the employment numbers. Of course this only happens when things don't go your way. If it had been a bad report it would have gone unchallenged and it would have been used to condemn Obama.

    For future reference, the numbers from last month were revised upward significantly. Remember that, because Republicans only comment on revisions when they move down -- thus concluding that they ONLY move down.
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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Rainman05 View Post
    I would like to know what those jobs are... and if they are jobs that can bring people into the middle class or not. If not, then its a very, very small victory...
    Odd that the trend toward lower paying jobs that has been going on far longer than Obama has been in office is suddenly of concern. It's kind of like that deficit that was fine during the Bush II years and suddenly became the imminent end of Western civilization as soon as a Democrat became president.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Sheik Yerbuti View Post
    Then the private sector must have been anticipating a new president for the last 2.5 years since the private sector has added some 5 million jobs over that period for 31 consecutive months of growth.
    And if you believe that, I bet you bought some Facebook stock.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Quote Originally Posted by Rainman05 View Post
    I would like to know what those jobs are... and if they are jobs that can bring people into the middle class or not. If not, then its a very, very small victory...
    One interesting stat that often gets overlooked is that the unemployment rate amongst college graduates is 4.1%, with a 76% participation rate.

    Table A-4. Employment status of the civilian population 25 years and over by educational attainment

    This is in essence full employment and suggests strength in the middle - upper income job market. The unemployment is actually amongst the less trained and the young.

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    Re: U.S. Jobless Rate Unexpectedly Falls to 7.8%; 114,000 Jobs Added

    Thought I heard a massive explosion coming from the west... it was all those GOP heads exploding in anger over statistics and maths... first polls and now this!
    PeteEU

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