latest jobs report

[Riot]

Originally Posted by Coach Pants

No. Well not for the big report. Only mild gains on average at the weekly churn.

But I give up. We're lost, jms. When you have successful people conditioned to accept this economy then it's over. No return to any form of sanity.

As long as the pigs at the royal farms get fed then everything stays the same.

Try going in that pen and making the pig sacrifice anything over the pigs self-interest.

We get what we deserve.

Yes. We have two economies: one for the wealthiest, and one for the 47%.

Unemployment at Obama-administration low of 7.8% Lowest since Obama was elected, in face of 100% Republican obstructionism. Treasuries up to 1.73% yield. Dow up 50 points on this announcement, and now at 5-year high, you can get yields of 10-15% readily if you have the money to place.

That's the economy for the top quintile of Romney's 53%

Meanwhile, the other 47% has real wages falling for 50 years in a row, had their pensions taken away, no benefits at work, a minimum wage that put you barely above poverty level, doesn't even have a simple, reliable method of saving any money with a compounding interest rate of even 1% of any means whatsoever.

And Romney-Ryan want you to elect them, so they can additionally privatize to profitize the taxpayers social security and medicare/medicaid trust funds.

That's about the only big piles of money left for the wealthy to skim in the USA. Oh - school education funds. They want to privatize to profitize those funds, too.

On the unemployment numbers: Of course there are still unemployed people not in the numbers. Everyone knows that. I'm tired of everyone calling these numbers "cooked", or talking about "real" unemployment when these numbers come out: these numbers have been created the same way through all administrations, there are always people not included in these unemployment numbers who are not looking or who have fallen off the grid, everyone knows that.

It is not a secret, nor is it "cooking the books" to compare apples to apples year after year. Everyone knows there is always about an additional 4% group of Americans who will never, ever be employed or be looking for work, whether the official unemployment numbers are 3.6% or 7.8% or 15.4%

That said: right now Congress is sitting on, ignored by the GOP, the American Jobs Act that would immediately create 2 million jobs, and the Veterans Jobs Act that would employ 100,000 unemployed veterans.

Republicans vote against these bills. Democrats vote for them. Choose your side Nov 6. If you vote Democratic and the House turns, both bills will be immediately passed January 2013 and real unemployment will drop like a rock next spring.

[Riot]

Geeshus, I'm so sick of internet conspiracy theorist Obama-hating idiots:

Can the White House cook the unemployment numbers?

No, says prominent Republican after Republican:

“No, there’s nothing at all curious about the last jobs report diving to 7.8 percent unemployment before the election,” said Keith Urbahn, Donald Rumsfeld’s former chief of staff.

(To be fair, not all GOP members felt something underhanded was going on. As former Bush White House aide Tony Fratto put it, “BLS is not manipulating data. Evidence of such would be a scandal of enormous proportions & loss of credibility.”)

That is pretty much the sentiment among economists.

“I would be very skeptical of any claims the job statistics are manipulated,” Gary Burtless, an economist at the Brookings Institution, in Washington, D.C., told ABC News.

”If they were, the administration’s record so far in 2012 would undoubtedly look a lot brighter.”

Indeed, as Ezra Klein points out in the Washington Post, the drop is a mere three-tenths of one percent, from 8.1 percent to 7.8 percent–not exactly a reason to crack open the Veuve Clicquot.

What’s more, it’s uncharacteristic of the Obama administration to lie about something like this.

“Richard Nixon was notorious for distrusting the BLS, and he probably managed to frighten some long-time BLS employees,” said Burtless.

“But I have not heard any persuasive reports of statistical manipulation in the BLS, even during the Nixon administration. So it would be astounding if President Obama has been more successful along those lines than Nixon managed to be.”

Guy La Bas, a managing director, fixed income strategy, at Janney Montgomery Scott, a Philadelphia brokerage firm, agreed. “I don’t want to simply blast Welch [ who accused Obama of cooking the books today ] since he’s a very respected manager,” he told ABC News in an email. ”In this instance, he issued an off-the-cuff remark which I highly doubt is true, but that doesn’t negate the value of his business opinions.”

But, he added, “The Bureau of Labor Statistics, which conducts the monthly jobs survey is a non-partisan group of hard-working people that have the public trust.

Considering this trust and the controls imposed on their processes, the chances that the BLS actively “manipulated” data are extremely low, even if some of the numbers underlying today’s jobs report appear surprising.

In my discussions with statistical organizations, political officials receive information about economic releases only after the numbers have been calculated, so there’s no opportunity for the White House–or anyone else–to alter the results.”

[Cannon Shell]

"Its uncharacteristic of the Obama administration to lie about something like this..."

So it is "characteristic" to lie about other things, just not reports produced by supposedly non-partisan gov't bodies? Or it is out of character for them to lie but, you know, sometimes they do? I'm amazed that people say **** like this and no one calls them on it.

[Riot]

You can contact the journalist author of the piece, Abby Eblin of ABC News, here to complain to her:

http://abcnews.go.com/blogs/business...-jobs-numbers/

I agree, that line she wrote doesn't exactly fit with what the source she was quoting is saying:

“I would be very skeptical of any claims the job statistics are manipulated,” Gary Burtless, an economist at the Brookings Institution, in Washington, D.C., told ABC News. ”If they were, the administration’s record so far in 2012 would undoubtedly look a lot brighter.” Indeed, as Ezra Klein points out in the Washington Post, the drop is a mere three-tenths of one percent, from 8.1 percent to 7.8 percent–not exactly a reason to crack open the Veuve Clicquot.

What’s more, Burless said it’s uncharacteristic of the Obama administration to lie about something like this. “Richard Nixon was notorious for distrusting the BLS, and he probably managed to frighten some long-time BLS employees,” said Burtless. “But I have not heard any persuasive reports of statistical manipulation in the BLS, even during the Nixon administration. So it would be astounding if President Obama has been more successful along those lines than Nixon managed to be.”

[bigrun]

The US unemployment rate fell to 7.8 percent in September, dropping below 8 percent for the first time in nearly four years

Not so, the real rate is 14%...I heard it from Neal Boortz and one of his callers verified it...that's nuff for me...

[dellinger63]

Glad to see the government is doing well enough to expand and hire 10K more Fed employees at bloated salaries and even more bloated pensions that our great grandchildren will end up paying for. Must be all that consolidating Obama promised. Guess the middle class (in the private sector) don't really matter all that much when compared to the government worker. And halving the deficit? Forgetaboutit!

The Obama administration has added 10,000 civilian workers to the federal government's payroll since July, according to BLS. In that month, the federal government employed 2,804,000 civilian workers. In August, that increased to 2,810,000. And, in September, the number of civilian federal employees increased again to 2,814,000.

The BLS's count of civilian federal employees does not include members of the military or individuals who work for certain intelligence gathering agencies, including the Central Intelligence Agency and the NSA.

http://cnsnews.com/news/article/unem...rnment-workers

[Crown@club]

This is like that trick we do to little kids...you hold your hand sideways, you hide that thumb, but take the thumb from your other hand and slide it back n forth across the top of your hand so it looks like its detached...misleading & deceiving, just like this administration!!!!!