Friday, October 5, 2012

Unemployment rate contradicted by job growth report

Americans for Limited Government issued the following statement in response to the now 7.8 percent unemployment rate:

Today's unemployment report met the political threshold set by Obama of being below 8 percent.

To reach this threshold, the Labor Department's Bureau of Labor Statistics found that an astounding 873,000 people found full-time jobs last month. This finding contradicts virtually every other economic indicator including those used by the Federal Reserve to take the immediate and unprecedented step to embark on the Quantitative Easing 3, which entails pumping $40 billion of new dollars into the economy every month for the foreseeable future.

Additional evidence that the data used to determine the unemployment rate is not valid can be found in the Bureau of Labor Statistics report on the number of actual jobs created. This report shows only 114,000 jobs created including an increase of 10,000 government workers.

Either the Federal Reserve, which has its fingers on the pulse of every element of the economy, and the Bureau of Labor Statistics manufacturing survey report are grievously wrong or the number used to calculate the unemployment rate are wrong, or worse manipulated. Given that these numbers conveniently meet Obama's campaign promises one month before the election, the conclusions are obvious.

"It appears that Obama has hired infamous Iraqi Information Minister Baghdad Bob to calculate the unemployment rate. Anyone who takes this unemployment report serious is either naïve or a paid Obama campaign adviser," says Americans for Limited Government Communications Director Rick Manning, also former Public Affairs Chief of Staff at the U.S. Department of Labor.



Bay0Wulf said...

Ahhhh ...

OK so this is some sort of surprise?

This LSOS and his administration have no intention of letting something as minor as the truth and reality stand in the way of his being awarded another 4 more years to "try to figure it out" or, otherwise drive us further down the tubes.

Lawrence Banks said...

I don't understand why the unemployment rate is going up. If you look online, there are lots of job listings for different levels. Also, if you can't find an office work, there's also a lot of home-based jobs like virtual assistants, data entry specialist, transcriber, etc.