Gee, What a Shock
Well, the miracles of miracles has happened: Unemployment is below 8% according to reports this morning. Finally we can understand why Obama fared so poorly in the debate; he was just so overcome by the great news that he just could not share with us. Green shoots!
This is baloney. Apparently, the revised number shows an additional 36,000 jobs in August and the September numbers came in at +114,000. When gas is over $4, heading for $5 in California, and signs around the economy continue to show little to no improvement can anyone truly believe this? Are we supposed to believe that after that abysmal performance that there are no ulterior motives behind the sudden revision and the uptick in September as well?
Color me skeptical to say the least.
A question then: What are we to make of this and are people going to look at this as a sign that if we just give him more time, Obama is going to turn this thing around? Will this really sway people or is this a desperate grasping of straws to take back the news narrative from Romney?
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Comments:
May '12
Re: Gee, What a Shock
36,000 Jobs? What is the Working Age population?
Thin straws to grasp at, these.
Apr '11
Re: Gee, What a Shock
No the 36k was in addition to the 96,000 jobs it already claimed we're created for a grand total of 142,000 jobs in August and 144,000 in September. Frankly, I find all of this to be very convenient
May '12
Re: Gee, What a Shock
Here's a link.
Twice as many Government jobs as Construction jobs. Interesting. And the tone of the article is still negative. So someone did not take the bait, maybe.
Dec '10
Re: Gee, What a Shock
Saw this coming 100 miles away. Give the great news to the law graduates selling shoes for a living (Amy Schley?). It's like the bin Laden film coming out on the weekend before the election. Too little too late. Reality trumps wishful thinking.
Nov '11
Re: Gee, What a Shock
U-6 is still 14.7% and the numbers don't really add up - but don't take it from me.
May '12
Re: Gee, What a Shock
I can't wait to see what that Koukis fellow has to say about the report.
Apr '11
Re: Gee, What a Shock
To me it just reeks as a desperate attempt to try to shift the narrative away from the debate performance that Romney had and to make it more about how this Obama guy really does know what he's doing.
Sep '12
Re: Gee, What a Shock
The Obama campaign and the unofficial Obama campaign are going to push this hard. "We're on the right track." Of course, when the next job report comes out on November 2 (four days before zero hour), probably showing an up-tick in the unemployment rate, it'll be back to the "we inherited this mess" mantra.
Jun '12
Re: Gee, What a Shock
This could be a net negative for Obama.
Remember that these numbers are generally revised later on... and in this case, it's all but certain to be revised upward.
That revision will happen some time between now and Election Day, I imagine.
Aug '11
Re: Gee, What a Shock
The Bureau of Labor Statistics is as politicized as anything in Washington.
Aug '12
Re: Gee, What a Shock
I saw this coming a year ago. Interestingly, all the numbers from other sources (ADP for example) pointed to a rise in the unemployment rate rather than a fall. I'll bet that after his miserable debate performance Wednesday he called the Secretary of Labor and ordered some more books-cooking.
Sep '11
Re: Gee, What a Shock
The America people are getting more sophisticated about the "unemployment rate". We understand that workforce participation and U-6 unemployment are much better reflections of economic reality. Does anyone actually think things got that much better in one month? Really?
Sep '10
Re: Gee, What a Shock
The unemployment rate is a result of 50,000 automated calls made in early to mid Sept. The same survey showed 800,000 jobs created. These numbers are not revised. The Obama admin could have skewed the numbers by directing a larger portion of the calls to lower .unemployment states, but I doubt they did. Career gov. bean counters are protective of their turf and the likelihood of one of them leaking would be high. If you want to obsess on numbers follow the absentee ballot request trends in OH and early voting trends in Ia. Both seem exceedingly positive for GOP.
Aug '11
Re: Gee, What a Shock
This is an enlightening look at how the BLS seemed to be fudging data in order to assist the recall against Scott Walker last spring. (It's a follow-up to this.)
I don't trust 'em.
Edited on October 5, 2012 at 3:57pmApr '11
Re: Gee, What a Shock
But what about the average voter? The very voter that many of us realize is just now paying attention and for whom a declining unemployment rate would invalidate some of Romney's points from Wednesday. I know these numbers are B.S. but how does that get conveyed?
Jun '11
Re: Gee, What a Shock
It's the dawn of a new "part-time workers who live in their mothers' basements" boom.
Jun '12
Re: Gee, What a Shock
How does it play when the numbers are revised upward in a few weeks?
Aug '12
Re: Gee, What a Shock
One month of unemployment under 8% does not a recovery make.
Apr '11
Re: Gee, What a Shock
@Wanderer, how often does the media cover the revision with the same fanfare with which this will undoubtably be?
Jul '10
Re: Gee, What a Shock
Pull the other one ......