LOL at Mitten and con pundits

[Ravi]

Not a real recovery, whines Mitt.

Con pundits claim a conspiracy to fake job gains.

Best. Election. Evah!

 

[Valerie]

 

[Ravi]

Google is part of the conspiracy!

 

[Valerie]

Google is part of the conspiracy!

lol Exactly!

 

[Valerie]

 

[PredFan]

Lol at liberal's desperation.

 

[Dot Com]

I saw that too Valerie Here's Bagley today:

 

[Valerie]

In a statement Friday, Romney said the numbers revealed by the Bureau of Labor Statistics weren't good enough.

"This is not what a real recovery looks like," Romney wrote. "We created fewer jobs in September than in August, and fewer jobs in August than in July, and we've lost over 600,000 manufacturing jobs since President Obama took office."

Friday's report showed revisions to the last two months of jobs data, indicating 181,000 jobs were created in July and 142,000 were created in August.


Romney noted in his statement that a "real unemployment rate" which included Americans who have dropped out of the labor force would be higher, saying "The results of President Obama's failed policies are staggering – 23 million Americans struggling for work, nearly one in six living in poverty and 47 million people dependent on food stamps to feed themselves and their families."

Romney has been consistent in criticizing Obama for policies he said have made it harder for Americans to find jobs, and a consistent point in his stump speech and in interviews has been an unemployment rate unable to slip below 8%.

Romney used the figure in his closing statement at Wednesday's presidential debate, saying in a second Obama term high unemployment would prevail.

"There's no question in my mind that if the president were to be reelected you'll continue to see a middle-class squeeze with incomes going down and prices going up," Romney said, adding: "You'll see chronic unemployment. We've had 43 straight months with unemployment above 8%.
Unemployment rate below 8% a boon for Obama, but Romney says not enough – CNN Political Ticker - CNN.com Blogs

 

[Valerie]

Jobless rate drop no big surprise, despite the political racket

The news Friday that the unemployment rate fell sharply to 7.8 percent just one month before the next presidential election heartened some observers and shocked others.

When you turn down the volume on all the political noise surrounding the report, however, what comes through is that the U.S. economy remains locked in a period of slow, steady job growth.

“It’s consistent with a slowly improving labor market where a few extra people are coming into the labor market,” said Joel Naroff, economist with Naroff Economic Advisors.




To understand why many economists might have that reaction, it helps to look at how the Bureau of Labor Statistics calculates its job market data – and why economists much pay more attention to long-term trends than the month-to-month changes that tend to dominate political rhetoric.

...



The White House Friday released a statement Friday saying the employment report marked progress in the nation's slow economic recovery.

"While there is more work that remains to be done, today's employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression," said Alan Krueger, chairman of the White House Council of Economic Advisers.



But the big drop in the unemployment rate had some conservatives crying foul about the accuracy of the data so close to the presidential election. Rep. Allen West, a Republican from Florida, was among those who accused Democrats of trying to make the unemployment situation look better than it is.

"Somehow by manipulation of data we are all of a sudden below 8 percent unemployment, a month from the Presidential election," West said on his Facebook page.




U.S. Labor Secretary Linda Solis said all the talk about data manipulation was absurd. "I'm insulted when I hear that, because we have a very professional civil service organization. These are our best trained and most skilled individuals," Solis told CNBC. "It's really ludicrous to hear that kind of statement."

It’s not uncommon for unemployment figures to be revised later to reflect refinements in calculations, but economists said that's usually a result of a better understanding of the labor market, rather than any deliberate attempt to tweak the data.

“No mainstream economists, as far as I’m aware, would question whether the statistics have been deliberately manipulated,” Ashworth said.

Jobless rate drop no big surprise, despite the political racket - Economy Watch

 

[Valerie]

The September gains were led by the health care industry, which added 44,000 jobs — the most since February.


Now there's a big shocker ^ new administrative jobs in Health Care!




Transportation and warehousing also showed large gains. The revisions showed that governments actually added 63,000 jobs in July and August, compared with earlier estimates that showed losses.

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.


US jobless rate falls to 7.8 pct., 44-month low - Yahoo! Finance