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Author: HMALETTER Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1947603  
Subject: Unemployment numbers Date: 10/6/2012 7:42 AM
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Most real journalists are questioning the numbers. Not is the number real, but what made it what it is, and is it meaningful?


"What this .03% drop means (per Ed Morrissey) is that the number of unemployed people dropped by 456,000 when only 114k jobs were created--well below the monthly average, and below population growth. Where did 342k people go to lower the number so dramatically just 31 days before a presidential election? Did they retire, leave the planet, die of old age in the unemployment office?

Moreover, just 30 days before the election, 342K people dropped off the unemployment rolls and lowered the unemployment rate to below 8%--a benchmark number vitally important to President Obama who promised his stimulus would ensure we wouldn’t hit 8%.

Finally, this is the second hinky looking report/revision from the Bureau of Labor Statistics in as many months. Just days ago, 400,000 jobs were "discovered"--almost the exact number Obama needed to have a record of creating more jobs on his watch than were lost.

The Obama-friendly media is rolling out some very convenient talking points, with NPR crowing in its half-hourly news bulletin: "The unemlpoyment rate is now back where it was in when President Barack Obama took office in January 2009." Except it isn't, exactly."


http://www.breitbart.com/Big-Government/2012/10/05/Fuzz-Math...

Perhaps a better explanation:

"That said, a closer look shows the entire drop in the unemployment rate can be attributed to a surprise rise of 582,000 in part-time workers. U-6 unemployment remained at 14.7%. U-6 includes part-time workers who want a full-time job.

Over the past several years people have dropped out of the labor force at an astounding, almost unbelievable rate, holding the unemployment rate artificially low. Some of this was due to major revisions last month on account of the 2010 census finally factored in. However, most of it is simply economic weakness."

Read more: http://www.businessinsider.com/the-unemployment-rate-drop-do...
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