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WmWallace 
Ole Miss Fan
Baton Rouge
Member since Jan 2012
1333 posts
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 11:20 am to Tigah in the ATL)
I knew that they would get it below 8 but 7.8 is rich. It wouldn't matter to any liberals if they just pulled it out of thin air.
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udtiger 
LSU Fan
Louisiana
Member since Nov 2006
18064 posts
 Online
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 11:41 am to WmWallace)
Lies, damned lies, statistics.
In sum, the "negatives" coming from this "great" number outweigh the poitives.
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NHTIGER
LSU Fan
Central New Hampshire
Member since Nov 2003
6538 posts
Online
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 2:02 pm to Lsut81)
quote:
quote:
A .5 drop in 2 months.....
Mhm and the last report was the biggest drop in 29yrs?
I responded to this yesterday by pointing out that the comment is a mistake. U-3 had dropped by 0.3% or more three times in the past two years before this. You're confusing the unemployment rate with the fact that the BLS report shows a September increase in employment of 873,000 (from 142,101,000 to 142,974,000). THAT is what the media was talking about in terms of the largest increase in 29 years, not the unemployment rate change.
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NHTIGER
LSU Fan
Central New Hampshire
Member since Nov 2003
6538 posts
Online
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 2:16 pm to udtiger)
quote:
BLS "estimated" that almost 600k part-time workers actually want full-time jobs
Another misunderstanding of the report.
What BLS reported was an INCREASE of 600k part-time workers from the previous month, up from 8.0M to 8.6M. A far different thing. With U-6 unchanged at 14.7% and the labor participation rate upticking a hair, the 600k represent a shift of that many workers from full-time status to part-time status in one month, which no one believes, even though as a back-to-school month, September traditionally sees a significant number of people re-entering part-time work after taking the summer off to oversee kids on vacation from school.
And while the new jobs number is difficult to fudge, based upon the collection method, the unemployment rate is quite easy to manipulate. Remember, the unemployment rate is a joint-venture of the Commerce Dept. and the Labor Dept.
Commerce collects the information from the households and turns the raw numbers over to Labor to create the tables and do the calculations.
It's the Commerce Dept. that has the easy way to manipulate the final figures, without any fraud or cooking of the books, or doing anything illegal.
Bottom line is that Solis can offer no explanation for the increase in the number of employed Americans by 873,000 people in just one month and has not even tried to.
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Radiojones
LSU Fan
Dutchtown, LA
Member since Feb 2007
4207 posts
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 7:26 pm to Tigah in the ATL)
Irregardless, 7.8% unemployeement is a total trainwreck! We should be below 6% by now.
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mtntiger
LSU Fan
Asheville, NC
Member since Oct 2003
7738 posts
Online
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 7:34 pm to NHTIGER)
quote:
the 600k represent a shift of that many workers from full-time status to part-time status in one month, which no one believes, even though as a back-to-school month, September traditionally sees a significant number of people re-entering part-time work after taking the summer off to oversee kids on vacation from school.
So which is it? Are there more than half a million people being reduced to part-time status from full-time work (which is an incredibly bad number), or are there a bunch of people who are suddenly employed part-time after taking the summer off to care for their kids?
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NHTIGER
LSU Fan
Central New Hampshire
Member since Nov 2003
6538 posts
Online
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 7:58 pm to mtntiger)
quote:
So which is it? Are there more than half a million people being reduced to part-time status from full-time work (which is an incredibly bad number), or are there a bunch of people who are suddenly employed part-time after taking the summer off to care for their kids?
In reality, it's neither. It's the number that the BLS has given us. No one believes that 600k people went from full-time jobs to part-time jobs between mid-August and mid-September.
The fact that the published part-timers-seeking-FT-work number increased by 600k while the U-6 rate stayed the same (and that is the critical consideration) means your govt. is shifting these people from FT to PT status from one month to the next.
My reference to some individuals being available to re-enter the workforce in part-time positions with the return of kids to school was in reference to the Household Survey's explosion in the number of employed Americans, which includes both FT and PT workers. It would be a limited contributory factor, but certainly not an overall explanation to this mystery.
The unexplainable increase of 873,000 employed Americans is the second part of the mystery - the part which is responsible for the 0.3% drop to 7.8% in U-3.
Stated differently, the Household Survey resulted in two separate and distinct anomalies this month, both of which carry no credibility.
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HubbaBubba 
USA Fan
Bloemee, TX
Member since Oct 2010
4986 posts
Online
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 8:06 pm to NHTIGER)
7.8% was the unemployment rate when President Bush left office in January, 2009, and that was the highest level in his entire 8 years in office — with the average rate being approximately 5.3% over his two terms. Now that Bush’s highest unemployment rate is Obama’s lowest, can someone explain why this should be seen as such great news for Obama? I mean, has the bar been lowered so much by this administration, that Bush's worst can be viewed as a positive for Obama? 
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udtiger
LSU Fan
Louisiana
Member since Nov 2006
18064 posts
Online
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 8:30 pm to HubbaBubba)
Obama is awesome?
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RedStickBR
LSU Fan
Member since Sep 2009
9088 posts
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 10:42 pm to Tigah in the ATL)
quote:
I don't know the number, don't know where the number comes from, or even want to.
Spoken like a true Obama supporter.
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mmcgrath
LSU Fan
New Jersey
Member since Feb 2010
2164 posts
| re: keep pimpin that 7.8% dems... (Posted on 10/7/12 at 10:51 pm to HubbaBubba)
quote:
Now that Bush’s highest unemployment rate is Obama’s lowest, can someone explain why this should be seen as such great news for Obama?
Because Obama inherited a job market where unemployment was accelerating and was destined to go over 10% in a few months no matter who was president.
But I suspect you already knew this.
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udtiger
LSU Fan
Louisiana
Member since Nov 2006
18064 posts
Online
| re: keep pimpin that 7.8% dems... (Posted on 10/8/12 at 6:18 am to mmcgrath)
"Destined" to go to 10%?
Then Obama and his crew were TRULY lying about the stimulus, and not just typically stupid.
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EST
LSU Fan
Investigating
Member since Oct 2003
10903 posts
| re: keep pimpin that 7.8% dems... (Posted on 10/8/12 at 6:45 am to udtiger)
Libs/Dems are hilarious. It only took Obama 4 years to get the unemployment rate .2% below 8%.
And the stupid sheep go along with the celebration.
 
(Besides 7.8% being unacceptable, anyone with a brain knows that 7.8% is not an accurate number.)
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