From an unquestioning Associated Press:
US jobless rate falls to 7.8 pct., 44-month low
US unemployment rate falls to 7.8 pct. in September, lowest since Jan. 2009; hiring increases
By Christopher s. Rugaber | Fri October 5, 2012
Notice how the AP was so giddy at this news, they even added a rarely used a sub-headline.
WASHINGTON (AP) – The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years.
In fact, this alleged new rate is exactly the same rate that unemployment was when Obama took office in January 2009. What are the odds?
The rate fell because more people found work, a trend that could impact the presidential election.
In fact, this is the second to last jobs report before the election. And given early voting, it is probably the most important in the election cycle. So naturally every effort was made to make it look good.
The Labor Department says employers added 114,000 jobs in September.
So we are supposed to believe that the addition of a measly 114,000 jobs made the unemployment rate drop .3%?
Lest we forget, according to the AP before the August report was issued last month, “Economists expected [that] an addition of 125,000 total nonfarm jobs in August… would leave the unemployment rate unchanged at 8.3 percent.”
But magically 96,000 more jobs in August lowered the jobless rate by .2% in August. And now 114,000 jobs lowers it another .3%. It’s magic.
The economy also created 86,000 more jobs in July and August than first estimated. Wages rose in September and more people started looking for work.
So more people are looking for work, rejoined the workforce, and the jobless rate still went down?
The revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months.
The weekly unemployment rate (which is based upon real numbers and not a ‘poll’ have been revised for the worse for 82 out of the last 83 weeks. And yet the monthly jobs number for the last three has been revised for the better?
How is that possible?
The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office.
The decline could help Obama, who is coming off a disappointing debate against Mitt Romney.
Isn’t it funny how that works.
By the way, the former former CEO of General Electric has noticed.
Via, Business Insider:
JACK WELCH: Obama Is Manipulating The Jobs Numbers Because His Debate Performance Was Awful
Brett LoGiurato | October 5, 2012
Former GE CEO Jack Welch’s reaction to non-farm payrolls adding 114,000 new jobs in September and the unemployment rate falling to 7.8 percent:
Unbelievable jobs numbers..these Chicago guys will do anything..can’t debate so change numbers
By the way, remember that this report is just based on the Bureau Of Labor Statistics’ ‘household survey.’ In other words, it is just another poll.
And we now know how far pollsters will go to skew things to help Obama.