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Oh Look, Another Bogus Jobs Report

post #1 of 6
Thread Starter 

Last week, we had the inexplicable unemployment numbers (drop of .3% despite only 114,000 new jobs being created and less jobs created in September and August than the months before).   This week, we have weekly jobless claims "plunging" to 339,000.  Things must be getting better?  Right?  

 

Wrong.  

 

 

 

 

Quote:

As Dow Jones reported: “A Labor Department economist said one large state didn't report additional quarterly figures as expected, accounting for a substantial part of the decrease.”

The wording of that statement, along with the accompanying headlines, left the impression that one major state didn’t turn in its figures.

Here's what actually happened. The state did report weekly jobless claims but did not process and report its quarterly claims number (when many people have to reapply for benefits for technical reasons as opposed to being newly laid off). As a result, there wasn't the expected spike in claims that normally happens at the start of the quarter.

 

Update:  That state was none other than California, the 8th largest economy in the world, not to mention s state with high unemployment.   

 

The fact of the matter is the economy is virtually stagnant.  We already know economic growth is slower than 2011, which itself was slower than 2010.  We already know that there are fewer people working in the United States than when the President took office.  The job market is not bleeding, but it's not improving much either.  It's barely (questionably) keeping up with population growth.   

 

But hey...nothing to see here.  Forward!  

I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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post #2 of 6
Can anyone defend this? I am waiting for the apologists to come in and talk about how unpatriotic it is for this report to have been written undermining the jobs report and the rosy outlook it gave. Truth is not patriotic or unpatriotic, it is truth. Lying about that truth to distort the market or to control end manipulate voters. That takes you into unpatriotic territory. Who has done which one here?
NoahJ
"It is unwise to be too sure of one's own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err." - Mahatma Gandhi
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NoahJ
"It is unwise to be too sure of one's own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err." - Mahatma Gandhi
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post #3 of 6
Thread Starter 
Quote:
Originally Posted by NoahJ View Post

Can anyone defend this? I am waiting for the apologists to come in and talk about how unpatriotic it is for this report to have been written undermining the jobs report and the rosy outlook it gave. Truth is not patriotic or unpatriotic, it is truth. Lying about that truth to distort the market or to control end manipulate voters. That takes you into unpatriotic territory. Who has done which one here?

 

So far, no one.  Hands, BR, et al know there is no defense.  All they have is claiming Romney's a Rich Liar Who Wants To Ban Tampons®

I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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post #4 of 6

Oh please, no more conspiracy theories till after the election. Practically every post now is some new right wing conspiracy theory, from poll numbers, jobs figures, libya...anything really. 

"I have been made victorious by terror~ Muhammad

"The future must not belong to those who slander the prophet of Islam," ~ Barack Obama

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"I have been made victorious by terror~ Muhammad

"The future must not belong to those who slander the prophet of Islam," ~ Barack Obama

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post #5 of 6
Quote:
Originally Posted by Hands Sandon View Post

Oh please, no more conspiracy theories till after the election. Practically every post now is some new right wing conspiracy theory, from poll numbers, jobs figures, libya...anything really. 

 

Really?  This has absolutely nothing to do with conspiracy theories.  The numbers don't make any sense at all, and there are even caveats in the numbers such as the Ca reporting and something like 600k part time job adds.  The U4 number dropped .3% but the U6 number didn't move at all.  If there was a real change in unemployment both numbers would have come down at least some.  Use a little logic and common sense.  This is the last jobs report to come out before the election and even though the numbers don't support it the published rate is mysteriously down below 8%?

post #6 of 6
Thread Starter 
Quote:
Originally Posted by Hands Sandon View Post

Oh please, no more conspiracy theories till after the election. Practically every post now is some new right wing conspiracy theory, from poll numbers, jobs figures, libya...anything really. 

 

Quote:
Originally Posted by svnipp View Post

 

Really?  This has absolutely nothing to do with conspiracy theories.  The numbers don't make any sense at all, and there are even caveats in the numbers such as the Ca reporting and something like 600k part time job adds.  The U4 number dropped .3% but the U6 number didn't move at all.  If there was a real change in unemployment both numbers would have come down at least some.  Use a little logic and common sense.  This is the last jobs report to come out before the election and even though the numbers don't support it the published rate is mysteriously down below 8%?

 

Hands doesn't care.  He's got the blue jersey on, and he's not going to take it off.  Keep in mind, it was people who think like him that were assailing 5.5% unemployment during the Bush years, claiming the U-6 number was much higher.  Use that argument now and you're rooting against America.  And just imagine if these kinds of bewildering numbers came out during Dubya's tenure.  The Left would be exploding.  

I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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