Jobs Report - Any Guesses?

Campaigning on Friday, Mr. Obama touted the latest jobs report and repeated his refrain that the economy has created five million jobs during this recovery. What he didn't say is that in a normal recovery we would have nearly twice that number. Mr. Obama claims to be a tribune of the middle class, but he's presided over the worst economy for average workers since my enemy yellow back Jimmy Carter.
 
Unemployment benefits were changed/extended multiple times over the past few years, were they not? Would probably have been a smart move to make most of those extensions expire right before the election since it would lower the unemployment 'number'. It would have been campaign suicide to do the opposite, and extend/relax requirements through the election... which seems completely backwards haha.
 
Officials reject conspiracies on unemployment rate

By CHRISTOPHER S. RUGABER and SCOTT MAYEROWITZ | Associated Press

WASHINGTON (AP) — When conspiracists suggested Friday that the Obama administration had engineered a sharp drop in unemployment to aid President Barack Obama's re-election, the response was swift.
Career government officials, economists and even some Mitt Romney supporters issued a collective sigh.

The staffers who compute the U.S. unemployment rate work in an agency of the Labor Department. Officials who have overseen the work say it's prepared under tight security with no White House input or supervision.
"To think that these numbers could be manipulated. ... It's impossible to do it and get away with it," said Keith Hall, a former commissioner of the Bureau of Labor Statistics, the agency that calculates the unemployment rate.
"These numbers are very trustworthy," said Hall, who was appointed by President George W. Bush and whose four-year term ended in January.
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Those conspiracy theory folks who say good federal workers would intentionally "cook the books " on jobs numbers certainly diminish the ethical standards of us federal workers. Such talk is the same as calling federal employees "liars". I take great offense at that.

No, we would not do that.
Officials reject conspiracies on unemployment rate - Yahoo! News
 
Viva_La_Migra said:
I agree, but the actual jobless rate is closer to 12% than 8%. Why they take out those who are no longer receiving unemployment benefits, but haven't found a job is beyond me.
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Not to mention the newly found (Government) Public Jobs that were not counted in July and August, that's only one thing that's skewing the count. Who did the hiring and why?
 
nnuut said:
Looks like we don't need QE3, cancel it now, 7.8% is just fine.
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I agree, but the actual jobless rate is closer to 12% than 8%. Why they take out those who are no longer receiving unemployment benefits, but haven't found a job is beyond me.
 
Warrenlm said:
LOL. Why is today's report questionable? It's on schedule. The Media was told to harp on 8% so under 8% will provide a headline.

What happened in March 2010 to cause a minor uptick? Some doubt about benefits or deadline that caused some more to seek work?
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Mainly political....but also, if it swings broadly it's suspect, people who are out of the market because of this indicator may be a little upset. But, it should only carry a "little" weight since it's a lagging indicator.
 
LOL. Why is today's report questionable? It's on schedule. The Media was told to harp on 8% so under 8% will provide a headline.

What happened in March 2010 to cause a minor uptick? Some doubt about benefits or deadline that caused some more to seek work?
 
Wow, look at the participation levels drop!
courtesy of:link
EmployPopSept2012.jpg
 
Bloomberg says the 7.8% is QUESTIONABLE? NAH! Nobody would purposely Cook the Books.:suspicious:
Highlights
"Today's report includes a surprise drop in the unemployment rate-but it is statistically questionable."
Economic Calendar - Bloomberg
 
clester said:
Conspiracy theorists are coming out.
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Have to. How do you add a little over 100K in jobs, and yet millions of people still looking? My math teacher needs to be fired. Oh wait, participation rate dropped too! Next statement goes to the political forum.
 
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