The unemployment rate decreased to 7.8 percent in September, a number certain to impact the presidential race.
Pundits have been saying for months this number had to drop below 8 percent for it not to be a hindrance to President Obama’s reelection chances.
The economy added 114,000 nonfarm payrolls in the month according to the Bureau of Labor Statistics with gains in healthcare, transportation and warehousing.
Truly shocking in the report was that the number of unemployed people dropped by 456,000 to 12.1 million.
Maybe more shocking, total employment, as measured by the Household Survey, rose by 873,000 in September to 142,974,000, the biggest one month jump since June 1983.
Hmm… Obama needs numbers below 8% to be reelected. After 4 years of “unexpected” hikes in unemployment that never seemed to match predictions, suddenly the biggest one month jump in 30 years hits. Amazing.
As such, total employment now stands at the highest level it’s been since December 2008 before Obama was inaugurated.
But even more mysterious is the divergence in the two surveys done by the Labor Department.
The Household Survey showed a gain of 873,000 people employed in September – resulting in the surprise drop in the unemployment rate – while the Establishment Survey only showed a rise of 114,000.
Isn’t that interesting. It’s almost as if the numbers were massaged again, like removing people who quit looking for work from the unemployment rolls, as if those who’ve given up were suddenly employed, and now, suddenly, there’s almost a million more people employed.
Gee, isn’t that just… really, really, really convenient for Obama?
HotAir notes that the U-6 number is around 14.7%. The U-6 is the unemployment rate that includes the total unemployed, discouraged workers who aren’t looking for work, the “loosely attached” who are looking for work kinda sorta, and the underemployed who are working part time but want to work full-time.
As noted here on an Examiner.com article:
Republican Party chairman Reince Priebushad this to say on Twitter
Important fact to note – if the workforce was the same size as it was back when Obama took office, unemployment would be closer to 11%
Contained in the data are some disturbing numbers. The labor force participation rate remained near its recent low from August, with a September rate of 63.6 percent. The increase in the number of people employed is primarily due to people who found part time work but want a full time job. The number of people in that category rose by 600,000 to 8.6 million.
About 12.1 million workers remain unemployed. The number of workers unemployed for 27 weeks or more showed little change at 4.8 million. These hard core unemployed now represent 40 percent of all those unemployed. The average number of weeks unemployed rose for the third month in a row to 38.8 weeks.
Figures lie, liars figure.