A
Jobs Report Conspiracy?
http://theeconomiccollapseblog.com
http://albertpeia.com/jobreportcon.htm
{ Come on! People have to start calling a spade
a spade! O’s just a typical incompetent, jive-talking b***s*** nigger! He is so
pathetic and a total embarrassment! }
Well,
isn't that convenient? The Obama campaign desperately needed the last
employment report to be released before the election to show that the
unemployment rate had fallen below 8 percent, and somehow it magically
happened. Even though non-farm payroll employment only increased by
114,000 last month (not enough to even keep up with population growth), the
official unemployment rate fell from 8.1 percent to 7.8 percent. So how
did that happen? Well, the unemployment number is not based on the survey
of employers that showed that 114,000 jobs were added to the economy last
month. Rather it is based on a survey of households. And that
survey showed that the total number of Americans employed last month increased
by a whopping 873,000 - almost eight times the number that the employer survey
showed. That figure for September (873,000) was the biggest one month
increase in 29 years. And it just happened to come at
the exact perfect time for Barack Obama. So was there a jobs report conspiracy?
Examine the evidence and decide for yourself.
The number of Americans with a
job fell by 195,000 in July.
Then it fell by another 119,000 in August.
But somehow in September it
miraculously exploded in the other direction and 873,000 jobs were added
to the economy?
If you believe that, I have a
bridge that I want to sell you.
Somehow, the largest increase in
jobs in 29 years happened just when Barack Obama needed it the most.
Nah, that doesn't sound fishy to
me at all.
We are being told that a big
reason for the huge increase was the number of Americans working part-time for
"economic reasons". That number surged from 8.0 million in
August to 8.6 million in September.
Why the sudden jump?
Nobody can really explain it.
And if you look at the U6
unemployment rate, nothing has really changed at all. U6 is still at 14.7
percent just like it was last month.
But the media is not going to
talk about the U6 rate. Instead, all of the headlines are going to be
about "7.8 percent".
According to the survey of
employers, the U.S. economy added fewer jobs in September than it did in
August, and it added fewer jobs in August than it did in July.
So according to the survey of
employers, the employment situation in the United States is getting worse.
But according to the household
survey, we just had the greatest month of job creation since the first term of
Ronald Reagan.
Something does not add up.
And as I have written about previously, the unemployment rate would actually be up
around 11 percent instead of 7.8 percent if not for the millions of workers
that the government claims "dropped out of the labor force" over the
past few years because they became too discouraged to look for work.
So unemployment in America is
still a massive crisis, but the media is boldly
proclaiming that things are getting better and that we are on the road to
recovery.
Of course Obama looks like the
cat who ate the canary today. He is just thrilled with the "7.8
percent" number.
But the truth is that according
to the employer survey, job growth in the United States is actually slower than
last year. The following is from the Calculated Risk blog....
All that said, the economy has only added 1.3 million payroll
jobs over the first nine months of the year. At this pace, the economy would
only add around 1.8 million private sector jobs in 2012; less than the 2.1
million added in 2011.
Are you starting to see why
people are so skeptical of this jobs report?
When the "7.8 percent"
figure was released, there was immediately a wave of shock and unbelief
throughout the financial world and all over the Internet.
The following is a sampling of
skeptical quotes about this jobs report....
Former GE chief Jack Welch
Unbelievable jobs numbers..these Chicago guys will do
anything..can't debate so change numbers
Chapwood Capital Investment
Management Managing Partner Ed Butowsky
I feel like I’m watching a movie. There is no way in the world
these numbers are accurate.
Neil Irwin of the Washington Post
"Weird that payrolls are exactly on forecast but household
survey is far better."
Conn Carroll, senior editorial writer
for the Washington Examiner
While it is highly improbable that BLS conspired to cook the
books, there is still a huge 756,000 job gap between the number of jobs
employers told the Labor Department they created in September (114k), and the
number of Americans who told the labor department that they got new jobs
(873k).
U.S. Representative Allen West
I agree with former GE CEO Jack Welch, Chicago style politics is
at work here. Somehow by manipulation of data we are all of a sudden below 8
percent unemployment, a month from the Presidential election. This is Orwellian
to say the least and representative of Saul Alinsky tactics from the book
"Rules for Radicals"- a must read for all who want to know how the
left strategize . Trust the Obama administration? Sure, and the spontaneous
reaction to a video caused the death of our Ambassador......and pigs fly.
Gluskin Sheff's David Rosenberg
That the 7.8 percent jobless rate takes it to the level that
prevailed when the President took office in January 2009 has raised many an
eyebrow. I don't believe in conspiracy theories. But I don't believe in the
Household Survey either.
This notoriously volatile indicator has become even more so in
recent months. It showed a 195K slide in July and a 119K decline in August, to
only then reveal a massive 873K surge in September.
Radio host Laura Ingraham
"Jobs #s from Labor Secretary Hilda Solis are total
pro-Obama propaganda--labor force participation rate at 30-yr low.
Abysmal!"
Americans for Limited
Government
"Either the Federal Reserve, which has its fingers on the
pulse of every element of the economy, and the Bureau of Labor Statistics
manufacturing survey report are grievously wrong or the number used to
calculate the unemployment rate are wrong, or worse manipulated. Given that
these numbers conveniently meet Obama's campaign promises one month before the
election, the conclusions are obvious."
Rick Santelli of CNBC
"I told you they'd get it under 8 percent — they did! You
can let America decide how they got there!"
Of course the backlash in the
media against skepticism of the jobs report has been very forceful.
Already, those that are doubtful
of the legitimacy of the jobs report are being called "truthers" - as
if there is something wrong with wanting to know the truth.
Sadly, that is how things work
these days. If you don't like the viewpoint that some people are
expressing, you just label them "conspiracy theorists".
And when someone is labeled a
"conspiracy theorist", that is code for "that person is so crazy
that you should not listen to anything they say".
But the truth is that we live in
a world where often people do things that they are not supposed to be doing.
When something rather strange
happens, it is not wrong to investigate and try to figure out what is going on.
And this jobs report seems very,
very odd.
It sure does seem rather
strange that the household survey is showing almost 8 times as many jobs created
as the employer survey does.
It sure does seem rather
strange that 873,000 more Americans were working in September (the largest
increase in 29 years) after decreases in both July and August.
It sure does seem rather
strange that the unemployment rate dropped under 8 percent at the exact moment
when Barack Obama needed it the most.
But perhaps all of this is just
a coincidence.
What do you think?’
{ JACK
WELCH: Obama Is Manipulating The Jobs Numbers Because His Debate Performance
Was Awful Business Insider | Former
GE CEO Jack Welch’s reaction to non-farm payrolls adding 114,000 new jobs in
September and the unemployment rate falling to 7.8 percent. Welch: Obama manipulating
numbers after debate performance...
{ There are some people (and their assessments) that you might dismiss
as light-weight partisans… Jack Welch is not one of them! Indeed, among the
rarest breed historically of exceptional american CEO’s, Welch points to the
folly of preposterously a month before elections, on paltry/pathetic jobs
numbers ( election year temp/part-time for manipulating stats along with the
nebulous ‘stopped looking’ fudge factor) , following a disasterous debate
showing (of wobama failure and incompetence), the unemployment rate falls to
just below the ‘superstitious’ 8.0. If you’re a fool, you’ll buy into what is
tantamount to the obama 100% employment fantasy where literally everyone but
him has stopped looking for work and hence, not counted in compiling the
unemployment rate (and then those jobs in the millions lost and gone forever on
his watch - what a banana republic!). Come on, wake up!: JACK WELCH: OBAMA IS MANIPULATING THE JOBS
NUMBERS BECAUSE HIS DEBATE PERFORMANCE WAS AWFUL…UNBELIEVABLE JOBS
NUMBERS…THESE CHICAGO GUYS WILL DO ANYTHING…CAN’T DEBATE SO CHANGE NUMBERS.
}
