Who Does Obama Think He’s Fooling With Spin on Jobs?

06132012Economy-220x120 Who Does Obama Think He’s Fooling With Spin on Jobs?  Even the pro-Obama media can’t spin hard enough to make the latest jobs numbers sound good for the president.

Headlines across the nation yesterday and today scream that 96,000 jobs were created in August and unemployment fell 0.2 percent, but any read of the data below the headlines is dismal for Democrats coming off a weak convention that was topped Thursday by a lackluster performance from the Great Bloviator himself.

The number of jobs created is about 30,000 or more below expectations, depending on whose predictions you use, and even that number is barely at the level the country would need to break even for the month.

The important number for the month is 368,000. That’s how many formerly employed Americans gave up hope of finding a job in August and fell off the government’s tables.

The number of people employed in August actually decreased by 119,000, according to the Bureau of Labor Statistics. But because of the huge number of people dropping out of the job market altogether, the total number of people counted as unemployed shrank by 250,000, producing an illusory decrease in unemployment from 8.3 percent to 8.1 percent.

The previous month, when unemployment rose to 8.3 percent, the administration had argued hard that it was “really

One Reply to “Who Does Obama Think He’s Fooling With Spin on Jobs?”

  1. Every since I found your site, I have been reading every day. I agree with you on the number of people taken of the statistic list of unemployed is by far the most important number. The 368,000 people who dropped out the market or just quit looking for work. So they do not even count these people in the percent of unemployed. They are thou still unemployed. I would call that a jiggled number.

    And if you look at the economy needing 120,000 jobs a month just to keep pace with the new people entering the work place. The jobs being created every month are minimal.

    I think the U-6 numbers reflects the more accurate number of unemployed underemployed. And that number stands at almost 15%. You rarely here about this number though.

    They are spinning these numbers any way they can to make things look good.
    Gee, how do you get the truth out there.

    Regards
    Richard Faller

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