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WALL STREET INSIDER On Latest Obama Jobs Report: ” Absolute Rubbish”
#81
(07-03-2013, 05:14 AM)hannadavis Wrote: Some conservatives are saying that the Obama Administration "tampered" with the figures shown in Friday's jobs report. The report said that thousands of jobs had been produced in Sept, and that the joblessness rate had dropped to 7.8 percent.

I'd say it's less tampering and more of a hope that no one looks too closely at the numbers in last week's Zombie jobs report. The main point is that the 'gains' were not in full time employment. Full time jobs, you know? ... the ones with benefits and stability? .... actually declined. The FTE statistics count part time as 0.5 jobs.

Quote: ... the economy replaced 272,000 full-time jobs with 432,000 part-time positions, thus eking out the reported 160,000 gain in total employment ...

I can't remember the source, but demographically, the only group that advanced was young women 20-24 ... everybody else lost out. So the White House is cheering what amounts to a spike in part time waitress and yoga instructor gigs. I'm not begrudging young women ... I'm happy for the ones that went from having no employment to at least having some employment. But it still doesn't strike me as something that can be touted as a "robust recovery". At this rate, if you accept the statistical wizardry and methodology that permitted this 'feat', and ignore the needs of expanding numbers of young people graduating from high school or college or the undocumented democrats that are currently entering our workforce seeking employment, in about four years we will reach 2007 employment levels. Frankly, it doesn't seem like something to celebrate.

Here is the actual report.

Here are some highlights ...
Quote:The civilian labor force participation rate, at 63.5 percent, and the
employment-population ratio, at 58.7 percent, changed little in June.
Over the year, the labor force participation rate is down by 0.3
IOW ... even as the population grows, the percent that are working has declined year to year.
Quote:Among the marginally attached, there were 1.0 million discouraged
workers in June, an increase of 206,000 from a year earlier.
... remember all the talk about how it's actually "good news" when the unemployment rate goes up because it means less people are 'discouranged' and looking?
... doesn't it kind of make you wonder what this Administration would actually consider 'bad' news? 8(
"Democracy is the theory that the common people know what they want and deserve to get it good and hard."
-- Henry Mencken
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