Surprise, Surprise . . . Unemployment Rate Dips Below 8% Just Before Election Day
Is anyone really surprised that just before Election Day the unemployment rate tumbles 0.3% in a single month to bring it down from 8.1% to 7.8% despite only 114,000 new jobs being added (in a normal recovery, we should be adding three times that number every month) – a number that doesn’t even keep up with population growth. This report would be great news except for the fact that if the same number of people were actually in the workforce as the day that President Obama was inaugurated the unemployment rate would still be over 11%. Little did people know that the President’s strategy of “Hope” would be to crush people’s hopes so they would be driven out of the labor force and become not just chronically unemployed, but give up looking altogether.
Anyone want to take bets on what the revised number will be for this month a few months down the line? It sure as heck won’t be under 8%, but by then Election Day will be passed. Just one more bottle of snake oil that Obama is trying to sell the American people.
UPDATE: Former GE CEO Jack Welch, someone who actually understands the economy and how to create jobs, is calling Obama out as a liar who is manipulating data to lower the unemployment rate.
5 Responses to “Surprise, Surprise . . . Unemployment Rate Dips Below 8% Just Before Election Day”
So how did it happen exactly? A combination of part-time hires, Government hires, and a lot of people who left the workforce? Still to have it go from 8.1 to 7.8 — a drop of 0.3 — I don’t know. Color me a bit skeptical. A lot of folks in the usually reliable liberal media are as well.
It’s an Obama Miracle! Praise our lord!
If the workforce were at least the size that it was on January 01, 2009….we’d be at 11.0% unemployment. Obama touts his 4.5MIL jobs created, directly looking past the 4.7MIL needed just to keep us afloat and even.
These numbers just don’t make any sense to me. They reported something like 863,000 new jobs based on 63,000 survey respondents. That would be closed to 14 new jobs per household. Really?
Along with that, I would assume our GDP would be rising somewhere in the 5.0 – 5.9% range as opposed to the stagnating 1-2% range where it is currently buried.
Doesnt ANYONE trust the nonpartisan agencies that work year-after-year with the numbers? I worked in one for over 30 years and political influence(rs) were like a joke to us. We turned out the data using consistent measures so that they were not manipulated. Many people do not like the bureaucrats but we are not THAT worthless so as to manipulate data. Jacck Welch btw sounds like he has gone into la la land…………………with carnival barker Trump not fare behind!!!
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