Economy lost 400,000 jobs or gained 100,000

[Tsing Tao]

Quote from nutmeg:

Is there like an on line course where people learn to converse like this? I can't ever come up with doozie lines like that. I'm going to write that one down.

Wow, you actually don't have that idiot on ignore like the rest of us?

 

[Grandluxe]

Biggest jump in 29 years....right before an election...Hmmmm?

 

[Tsing Tao]

ROMNEY: JOBS NUMBER MISLEADING BECAUSE PEOPLE GIVING UP SEARCH, WITHOUT DROPOUTS UNEMPLOYMENT RATE WOULD BE 11%

 

[pspr]

Quote from Tsing Tao:

ROMNEY: JOBS NUMBER MISLEADING BECAUSE PEOPLE GIVING UP SEARCH, WITHOUT DROPOUTS UNEMPLOYMENT RATE WOULD BE 11%

I read the other day that Obama has created only 300,000 more jobs since he has taken office. His 5 mil jobs created is bogus and doesn't take into account the jobs lost on his watch.

 

[Tsing Tao]

Quote from pspr:

I read the other day that Obama has created only 300,000 more jobs since he has taken office. His 5 mil jobs created is bogus and doesn't take into account the jobs lost on his watch.

It's hard to say. The jobs data is all based on the BLS, and the BLS has shown that it's methods are sketchy at best, fraudulent at worst.

 

[pspr]

Quote from Tsing Tao:

It's hard to say. The jobs data is all based on the BLS, and the BLS has shown that it's methods are sketchy at best, fraudulent at worst.

If you just take the non-farm payrolls reported by business and adjusted that is what it works out to.

 

[Tsing Tao]

Quote from pspr:

If you just take the non-farm payrolls reported by business and adjusted that is what it works out to.

The problem is created because of the multiple versions of unemployment. If you look at how most of the western world reports their unemployment data, it is people looking for work that cannot get it. Simple. But we split all this data out and don't consider certain folks unemployed simply because they don't meet criteria. Discouraged job seekers don't count WTF.

The media, of course eager to pick up on positive spin, goes right for the U3 when that doesn't include any of the other issues. If we were to go with the U3, we'd believe that we're economically rocketing towards a much better picture nationally. Does anyone that isn't smoking dope believe that?

 

[pspr]

Quote from Tsing Tao:

The problem is created because of the multiple versions of unemployment. If you look at how most of the western world reports their unemployment data, it is people looking for work that cannot get it. Simple. But we split all this data out and don't consider certain folks unemployed simply because they don't meet criteria. Discouraged job seekers don't count WTF.

The media, of course eager to pick up on positive spin, goes right for the U3 when that doesn't include any of the other issues. If we were to go with the U3, we'd believe that we're economically rocketing towards a much better picture nationally. Does anyone that isn't smoking dope believe that?

I think you are missing my point.

If you just use the non-farm payroll employment that is widely followed, the number suggests that during the Obama administration the total number of jobs created during his time in office is only 300,000. Not the millions Obama would like to claim which is from the job numbers bottom about 6 months AFTER he took office.

The non-farm payroll numbers reported by the BLS in the monthly report may or may not be accurate but it is the widely followed number that was used.

Under President Obama, the U.S. economy has created a net 415,000 private-sector jobs – less than 0.2% of the 155 million-member American workforce. Castro and Emanuel chose the window that they did — beginning in January 2010 — in order to maximize the apparent job growth under Obama.

http://blog.heritage.org/2012/09/06/fact-check-have-4-5-million-new-jobs-been-created-under-obama/

 

[Yannis]

Jack Welch✔
@jack_welch

Unbelievable jobs numbers... these Chicago guys will do anything... can't debate so change numbers...

 

[Tsing Tao]

Quote from pspr:

I think you are missing my point.

If you just use the non-farm payroll employment that is widely followed, the number suggests that during the Obama administration the total number of jobs created during his time in office is only 300,000. Not the millions Obama would like to claim which is from the job numbers bottom about 6 months AFTER he took office.

The non-farm payroll numbers reported by the BLS in the monthly report may or may not be accurate but it is the widely followed number that was used.

Under President Obama, the U.S. economy has created a net 415,000 private-sector jobs – less than 0.2% of the 155 million-member American workforce. Castro and Emanuel chose the window that they did — beginning in January 2010 — in order to maximize the apparent job growth under Obama.

http://blog.heritage.org/2012/09/06/fact-check-have-4-5-million-new-jobs-been-created-under-obama/

No, I got your point just fine. I'm adding my perspective to the absurdity of the situation. If there was one, clear and consistent measure that was constant across the world and measured unemployment, there would be no room for massaging data.