Dept of Labor Releases Bogus Unemployment Numbers, LIES

[Versa-Tech]

So, the countries top economists had predicted an estimated 113K jobs added and 8.1% Adjusted unemployment numbers for today's Dept. of labor report. The report did reflect 114K jobs added, but only 7.8% adjusted unemployment.

 

How exactly does that work? Did 450K unemployed people get thrown into federal prison or something? Who here is dumb enough to actually believe this number?

Edited October 5, 2012 by Versa-Tech

[napfirst]

So, the countries top economists had predicted an estimated 113K jobs added and 8.1% Adjusted unemployment numbers for today's Dept. of labor report. The report did reflect 114K jobs added, but only 7.8% adjusted unemployment.

 

How exactly does that work? Did 450K unemployed people get thrown into federal prison or something? Who here is dumb enough to actually believe this number?

I can think of 4 right off the top of my head that are dumb enough.......

[cal50]

Who here is dumb enough to actually believe this number?

 

 

The Obama cheerleaders or course.

[partsisparts]

I can think of 4 right off the top of my head that are dumb enough.......

The Obama cheerleaders or course.

 

Got any proof of these B.S. accusations?

[carguy]

_{Actually to lower the unemployment rate to 7.8% over 400,000 people would have had to find jobs. With only 114,000 new jobs created the only way to get to 7.8 is to have over 300,000 give up on searching for a job. The majority of the jobs created were in warehousing and transportation which indicate that companies are gearing up for the Christmans rush and those jobs will vanish by January.}

Edited October 6, 2012 by carguy

[partsisparts]

_{Actually to lower the unemployment rate to 7.8% over 400,000 people would have had to find jobs. With only 114,000 new jobs created the only way to get to 7.8 is to have over 300,000 give up on searching for a job. The majority of the jobs created were in warehousing and transportation which indicate that companies are gearing up for the Christmans rush and those jobs will vanish by January.}

You may want to read the following article:

http://economywatch....cal-racket?lite

 

 

From the article:

The unemployment data comes from two sources.

The first is a representative household survey of about 60,000 American households, which is conducted monthly.

The researchers count people as employed if they have worked in the past week, and they are considered unemployed if they haven’t worked but have actively looked for work in the past four weeks. The unemployment rate is not calculated based on who is collecting unemployment benefits.

The household survey, from which that 7.8 percent unemployment rate was calculated, is considered valuable because it includes self-employed people and others who might not show up in the payroll survey.

 

 

That’s the second source of data for the unemployment report. It’s compiled from a survey of about 141,000 businesses and government agencies, which account for about one-third of all nonfarm payroll employees.

That’s the data that is used to calculate the payroll figure, which in Friday’s report showed that nonfarm payroll employment rose by 114,000 in September.

 

It’s not uncommon for unemployment figures to be revised later to reflect refinements in calculations, but economists said that's usually a result of a better understanding of the labor market, rather than any deliberate attempt to tweak the data.

“No mainstream economists, as far as I’m aware, would question whether the statistics have been deliberately manipulated,” Ashworth said.

Edited October 6, 2012 by partsisparts

[napfirst]

You may want to read the following article:

http://economywatch....cal-racket?lite

 

 

From the article:

The unemployment data comes from two sources.

The first is a representative household survey of about 60,000 American households, which is conducted monthly.

The researchers count people as employed if they have worked in the past week, and they are considered unemployed if they haven’t worked but have actively looked for work in the past four weeks. The unemployment rate is not calculated based on who is collecting unemployment benefits.

The household survey, from which that 7.8 percent unemployment rate was calculated, is considered valuable because it includes self-employed people and others who might not show up in the payroll survey.

 

 

That’s the second source of data for the unemployment report. It’s compiled from a survey of about 141,000 businesses and government agencies, which account for about one-third of all nonfarm payroll employees.

That’s the data that is used to calculate the payroll figure, which in Friday’s report showed that nonfarm payroll employment rose by 114,000 in September.

 

It’s not uncommon for unemployment figures to be revised later to reflect refinements in calculations, but economists said that's usually a result of a better understanding of the labor market, rather than any deliberate attempt to tweak the data.

“No mainstream economists, as far as I’m aware, would question whether the statistics have been deliberately manipulated,” Ashworth said.

Any fool (you) should be able to do the simple math and know that these numbers are "cooked"......"ignorance is bliss"

[rn4]

Any fool (you) should be able to do the simple math and know that these numbers are "cooked"......"ignorance is bliss" Yes it is you prove it every time you post!

[partsisparts]

Any fool (you) should be able to do the simple math and know that these numbers are "cooked"......"ignorance is bliss"

Do you need extra tin foil to make your hat? You listen to Fox News and their conspiracy theories. They have NO evidence, they are relying on a tweet from the former CEO of GE. Read the article slowly so you can understand it, and then maybe the FACTS will sink in to your rotted brain.

Edited October 6, 2012 by partsisparts

[Langston Hughes]

So, the countries top economists had predicted an estimated 113K jobs added and 8.1% Adjusted unemployment numbers for today's Dept. of labor report. The report did reflect 114K jobs added, but only 7.8% adjusted unemployment.

 

How exactly does that work? Did 450K unemployed people get thrown into federal prison or something? Who here is dumb enough to actually believe this number?

 

Who is dumb enough to believe in every conspiracy theory about Obama that comes along

.

I can think of three that are dumb enough right off the top of my head.

 

The Romney cheerleaders of course.

 

I'm only surprised the post wasn't linked to a Washington Times op-ed written by a guy who calls himself the Tea Party comedian.

Edited October 6, 2012 by Langston Hughes

[Marginal Economist]

Here was a good explanation of the difference between the two reports. LINK

 

The biggest difference between the dynamics of the two is that the household survey is way more volatile. Here I've graphed the growth rates of the two and you can see the difference (the household survey is the blue line, the establishment survey is the red line).

 

 

 

 

 

 

This month, one of the two jobs numbers is an outlier. If recent patterns hold, either the establishment survey number will get revised up or the household survey number will reverse itself in the next month (or some combination of the two).

 

While the household number is fantastic news for the economy, we need to realize that it might not last, given the high volatility of the dynamics of that survey.

[Die Wahrheit]

I can think of 4 right off the top of my head that are dumb enough.......

 

Once again right wing hate groups. You guts hate for any good news of the economy. We have had 31 straight months of private sector growth and you guys hate it. But it was fine to use the method to get the unemployment rate when Bush was in office. How soon we forget 2007. Now the lies begain because the country is headed in the right direction. This country is not going to turn the leadership over to the lying Romney and the same ole Bush appointees. Hate all you want but we independents know better and will not let hypocrisy and lies change our perceptions of whats really happening. Good news for the Dems and Obama. Like I said the Senate is safe and the Dems will take the Congress. Lay off Fox news and the make believe economy that the right is giving you. Maybe you can think positive and be a kinder person to your family. Hate breeds anger!

[FordBuyer]

_{Actually to lower the unemployment rate to 7.8% over 400,000 people would have had to find jobs. With only 114,000 new jobs created the only way to get to 7.8 is to have over 300,000 give up on searching for a job. The majority of the jobs created were in warehousing and transportation which indicate that companies are gearing up for the Christmans rush and those jobs will vanish by January.}

 

Guess you Repubs missed the report of a few weeks ago where Labor Dept. missed counting some 450,000 newly created jobs over last 10 months. Thus, July and August numbers were revised upwards significantly also. In other words, summer hiring was much greater than thought. Not unusual for previous months figures to be revised upward or downward. You guys are too much and so blinded by your partisanship. If the figures are revised downward, it's bash Obama some more, and if they are upward, it's the Labor Dept. works for Obama and fudging numbers. And even if job growth explodes, then you will bitch about the higher inflation and interest rates that will come with it along with much higher oil prices. I kind of like the slow growth rate as inflatins and interest rates stay very tame. Inflation hurts everyone even more than unemployment in some ways.

[FordBuyer]

Once again right wing hate groups. You guts hate for any good news of the economy. We have had 31 straight months of private sector growth and you guys hate it. But it was fine to use the method to get the unemployment rate when Bush was in office. How soon we forget 2007. Now the lies begain because the country is headed in the right direction. This country is not going to turn the leadership over to the lying Romney and the same ole Bush appointees. Hate all you want but we independents know better and will not let hypocrisy and lies change our perceptions of whats really happening. Good news for the Dems and Obama. Like I said the Senate is safe and the Dems will take the Congress. Lay off Fox news and the make believe economy that the right is giving you. Maybe you can think positive and be a kinder person to your family. Hate breeds anger!

 

The Repubs should love these reports....................every month private sector jobs increase and public sector jobs decrease. I always thought Repubs cheered everytime a teacher or government worker is shown the door. As Romney would say, just a bunch of MOOCHERS!!!!!!!!!! After all, public sector employees don't buy houses, car, pay property taxes, pay sales tax, gas tax, income tax, and maybe even be your good neighbor. They are f-----in moochers.

[FordBuyer]

Who is dumb enough to believe in every conspiracy theory about Obama that comes along

.

 

 

 

 

I'm only surprised the post wasn't linked to a Washington Times op-ed written by a guy who calls himself the Tea Party comedian.

 

Good old Jack Welch certainly has sunken into a deep, dark place since retirement. My sympathies go to his poor wife who has to put with him.

[napfirst]

Guess you Repubs missed the report of a few weeks ago where Labor Dept. missed counting some 450,000 newly created jobs over last 10 months. Thus, July and August numbers were revised upwards significantly also. In other words, summer hiring was much greater than thought. Not unusual for previous months figures to be revised upward or downward. You guys are too much and so blinded by your partisanship. If the figures are revised downward, it's bash Obama some more, and if they are upward, it's the Labor Dept. works for Obama and fudging numbers. And even if job growth explodes, then you will bitch about the higher inflation and interest rates that will come with it along with much higher oil prices. I kind of like the slow growth rate as inflatins and interest rates stay very tame. Inflation hurts everyone even more than unemployment in some ways.

So you believe that they just "missed" 450,000 jobs?.......you are very gullible.......

[partsisparts]

So you believe that they just "missed" 450,000 jobs?.......you are very gullible.......

And you believe a tweet from a former CEO. Who's the real gullible one here.

 

They missed 450,000 jobs over the last 10 months. Considering the millions of people working I would say they didn't miss much. The BLS numbers are constantly being updated due to the difficulty of the task at hand. Don't you remember the Bush presidency, when the numbers were constantly being adjusted downward?

[cal50]

Well when the real number bounces back up please give that same praise and credit to Obama is he is still elected.

Although the smaller number "looks" good that's all that it is, looks.

 

 

The sampling group size and base is responsible for the swing which is more with a smaller sampling base of housholds Vs businesses.

 

http://tinyurl.com/8swrlrm

 

Paste-

 

The inconsistent reports reflect the different samples used in the two surveys, one focused on households the other on businesses. The establishment survey has a huge sample size of 141,000 business and agencies covering 486,000 worksites, whereas the household survey covers just 60,000 homes.The household survey is much smaller. When you look at something like labor force and employment levels, the uncertainty of those numbers is much larger,” said Mr. Hall. “Within two months, the household survey could show the unemployment rate eking back up.

[napfirst]

And you believe a tweet from a former CEO. Who's the real gullible one here.

 

They missed 450,000 jobs over the last 10 months. Considering the millions of people working I would say they didn't miss much. The BLS numbers are constantly being updated due to the difficulty of the task at hand. Don't you remember the Bush presidency, when the numbers were constantly being adjusted downward?

I have some waterfront property I'd like to sell you......please come when on the low tide.......450,000 jobs missed..just overlooked......I'm sure if you're that gullible or just dumb....

[partsisparts]

I have some waterfront property I'd like to sell you......please come when on the low tide.......450,000 jobs missed..just overlooked......I'm sure if you're that gullible or just dumb....

Do you have tin foil all over the walls of your house?

 

You do realize that the BLS is under strict guidlines and rules that ensure the confidetiality of it's reports. But I guess your right, a Tweet is a much more credible source of information.

 

http://www.bls.gov/bls/data_integrity.htm

Edited October 6, 2012 by partsisparts

[napfirst]

Do you have tin foil all over the walls of your house?

 

You do realize that the BLS is under strict guidlines and rules that ensure the confidetiality of it's reports. But I guess your right, a Tweet is a much more credible source of information.

 

http://www.bls.gov/b...a_integrity.htm

I have idea what "tweet" you're talking about......how about that property.....interested?

[Versa-Tech]

And you believe a tweet from a former CEO. Who's the real gullible one here.

 

They missed 450,000 jobs over the last 10 months. Considering the millions of people working I would say they didn't miss much. The BLS numbers are constantly being updated due to the difficulty of the task at hand. Don't you remember the Bush presidency, when the numbers were constantly being adjusted downward?

Oh yeah, who would be gullible enough to trust the opinion of an independent source, who once employed over 400,000 people, over an agency of bureaucrats with a guaranteed payroll from the administration that has the biggest stake in the calculations.

 

CEOs are CEOs because they know better than anyone else how to run a profitable business. Unless you have run a business with over 400,000 employees, and turned a profit, you simply aren't qualified to a legitimate opinion on the validity of his opinion.

 

 

[partsisparts]

Oh yeah, who would be gullible enough to trust the opinion of an independent source, who once employed over 400,000 people, over an agency of bureaucrats with a guaranteed payroll from the administration that has the biggest stake in the calculations.

 

CEOs are CEOs because they know better than anyone else how to run a profitable business. Unless you have run a business with over 400,000 employees, and turned a profit, you simply aren't qualified to a legitimate opinion on the validity of his opinion.

Jack Welch admittedly had no evidence to back up his ridiculous accusation. But he did know that the gullible people on the right would eat up his BS story. Edited October 9, 2012 by partsisparts

[Versa-Tech]

The BLS, admittedly, had no evidence to back up their ridiculous composite figures, but they did know that the ignorant people on the left would eat up the BS report.

Fixed it for yah... grammar too

[Mark B. Morrow]

Fixed it for yah... grammar too

 

Fixed? No, you just made it stupid.