FYI: Jack Welch is one of the most successful CEO's in American history. He is the man who put G.E. on the map and is considered an Icon, in American economic circles. His first response to this morning's idiot report is shown below.
Keep in mind that the "unemployment rate" for
August fell from 8.3% to 8.1% because 380,000 Americans were so
discouraged, they stopped looking for work. In that same month,
August, 44 of the 50 states report increased unemployment numbers. . . .
. . . 44 of 50 states. If those 380,000 had been counted, the
unemployment rate would have increased to 8.5% .
And now, we have this ridiculous lie. All analysts had
the September unemployment number increasing to from 8.1% 8.2%. In
stead, it fell by three tenths of a point, the most extreme
improvement since 2003.
Personally, I knew this number was going to
be controversial yesterday, when, in my research,
I realized that a valuable chart at the Bureau of Labor Statistic
suddenly deleted 11 year chart showing month to month job growth/loss. I
have used this chart several times in my reporting, but, yesterday,
I found that the chart had been deleted. That told me,
in no uncertain terms, that this Administration was in full control
of the BLS stats. Today's "adjustment" was fully expected
in view of the moral dessert that is the Obama Administration.
The big problem with this current report is found in the
fact that only 114,000 jobs were created, nation wide, for the
month of September. Good grief, this does not even keep up with
population growth.
Even The Elite Are Conspiracy Wonks Now
Submitted by Tyler Durden on 10/05/2012 - 09:13BLS Bureau of Labor Statistics
There was a time when only fringe blogs and digital dickweeds would suggest the BLS data was anything but entirely above board. That time has ended!
Facts you should know as you think about this report:
In the "establishment survey," a survey of American business, 114,000 were created in September, less than the month
before, and a 102,000 fewer jobs than in September of 2011.
There is a second [phone] survey - the "household survey" - taken by Labor that purports to show 873,000 went back to work in the single month of September in spite of the official labor stat
of 114,000 number. Of this 873,000 number, more than 600,000 are
part-time jobs. Understand that for the past three months, this "household survey" has been essential flat. Suddenly, this month, we have this blotted "increase."
These are not hard numbers, but the supposed result of people admitting, "Yes, I am working part - time or for myself. No I am not working in a job that gives me a full time income."
These are not hard numbers, but the supposed result of people admitting, "Yes, I am working part - time or for myself. No I am not working in a job that gives me a full time income."
The total of people actually working, is at a 12 year
low.
Manufacturing - the heart of any jobs recovery
- lost a whopping 16,000 jobs in September, alone, according to
Labor.
There is nothing is this report that adds up to a recovery.
Update: According to this Administration, the unemployment rate has fallen .5 of a one percent. Typically, it takes 153,000 jobs created to cut the rate by by one tenth of a point. According to this stat, 765,000 new jobs have been created in just two month. Of course, that has not happened.
Update: According to this Administration, the unemployment rate has fallen .5 of a one percent. Typically, it takes 153,000 jobs created to cut the rate by by one tenth of a point. According to this stat, 765,000 new jobs have been created in just two month. Of course, that has not happened.
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