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Unemployment down to 7.8%

Posted on 10/5/12 at 7:33 am
Posted by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 10/5/12 at 7:33 am
Very convenient for the president.

Especially when only 114k jobs were added. I might be buying into the BLS being rigged.

This makes unemployment .1% lower than when he took office.

ETA: U6 remained unchanged.
This post was edited on 10/5/12 at 7:34 am
Posted by Fat Bastard
coach, investor, gambler
Member since Mar 2009
73702 posts
Posted on 10/5/12 at 7:50 am to
the unemployment rate is a complete joke and fabrication. I do not see how anyone can take that rate seriously.

Posted by ZereauxSum
Lot 23E
Member since Nov 2008
10176 posts
Posted on 10/5/12 at 8:01 am to
quote:

Very convenient for the president.


Yup.

AP says that July and August were revised upwards, and also this:

quote:

Still, many of the jobs added last month were part time. The number of people with part-time jobs who wanted full-time work rose 7.5 percent to 8.6 million.


Somehow, I just don't feel like we are all better off.

AP Story

Posted by LSURussian
Member since Feb 2005
127231 posts
Posted on 10/5/12 at 8:10 am to
BLS = Soviet ministry spouting the regime's propaganda...
Posted by BennyAndTheInkJets
Middle of a layover
Member since Nov 2010
5612 posts
Posted on 10/5/12 at 8:30 am to
The two month revised figures are pretty good, but as was said I wouldn't put too much stock in NFP anymore. Post '08, the seasonal adjustments are very construed and the birth/death adjustment is beyond a joke. Also, as was said this was entirely part-time jobs.
Posted by GoCrazyAuburn
Member since Feb 2010
35011 posts
Posted on 10/5/12 at 1:51 pm to
I mean, how many months have they consistently revised the numbers upward? It will probably be around 8.2 once they do I suspect.
Posted by PG
Mandeville
Member since Sep 2012
2590 posts
Posted on 10/6/12 at 7:43 am to
nothing short of fabrication and election manipulation. All the jobs were public "servants" too - government which adds nothing back to the economy.
Real unemployment is closer to 20 -23%. Ask all the under 28 years olds with college degrees that cannot find a job - 55% are unemployed with huge student loan debts. Nothing short of moden day endured servants.
Posted by I Love Bama
Alabama
Member since Nov 2007
37764 posts
Posted on 10/6/12 at 6:35 pm to
They manipulate the inflation numbers so why not.
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