As soon as ex-General Electric CEO Jack Welch fired off a tweet questioning today's just released "unbelievable jobs numbers," the media went into a frenzy talking about how "conservatives" were launching conspiracy theories. Well, that's handy for the media and the Obama campaign, but it's not just "conservatives" who are confused by a full 0.3% drop in unemployment when only 114k jobs were created. CNBC is as confused as the rest of us: Job growth remained tame in September, with the economy creating just 114,000 net new positions though the unemployment rate fell to 7.8 percent
Comments: I would post the CNBC report, but John does great job of highlighting fishiness of this months reports. For your reference, here is graph of how the gaps between U-3, U-6, and SGS unemployment ballooned during last 4 yrs:
As i wrote earlier: These number are fishy 114,000 jobs added lowers the unemployment rate by .3%? that's every 38,000 jobs lowers the rate by .1%? That would me that 2.1 million jobs would give us an rate of 0%. Maybe my math is in error.
The Sept '12 U3 unemployment rate of 7.8% is the same as it was in Jan '09 when Bam Bam was coronated.
Unfortuantely, there are a lot more people today who've given up looking for work compared with back then, and a lot more people with part-time/low-pay jobs today who had higher paying full-time jobs back then.
Reduce the denominator, increase the numerator.
This is how U3 drops 0.3% but the U6 % doesn't change (and actually the number U6 is based on went slightly up). Simple math.
I didn't major in math but the unemployment numbers released by the feds this morning are somewhat difficult to understand. If the 114,000 jobs added in September is correct and the rate in August was 8.1%, I cannot calculate the 7.8% given today.
If 114,000 jobs lowers the unemployment rate by .3%, then every 38,000 jobs lowers the rate by .1% as Number 1 stated. Do the math and the result would be that 2.9 million jobs added would give us a rate of 0% unemployment.
Today, according to the Bureau of Labor Statistics, there are 47 million people drawing unemployment. (look it up, I just did). If we reduced that by 2.9 million, Obama wants us to believe that 44.1 million people out of work is 0% unemployment.
I do hope that others see that something is wrong with these numbers, especially after Obama's debate performance.
Can we, before our L-Tryptophan coma commences, vow to abandon all attempts to festoon Obamacare with ridiculous historical metaphors? The damn law is big, with a regulatory heft now in excess of 20,000 pages. But even this governmental behemoth groans under the weight of metaphorical ornaments both daft and dull. Obamacare is not Katrina, not in fact or political impact. Obamacare is not Iraq, not in its human or material cost or in the reckless misuse of a commander in chief´s most sacred obligations of truth, judgment, and management. Obamacare is not the Bay of Pigs, not in concept, execution, or
In trying to assess the the killing of Trayvon Martin by George Zimmerman, two seemingly conflicted truths emerge for me. The first is that based on the case presented by the state, and based on Florida law, George Zimmerman should not have been convicted of second degree murder or manslaughter. The second is that the killing of Trayvon Martin is a profound injustice. In examining the first conclusion, I think it´s important to take a very hard look at the qualifications allowed for aggressors by Florida´s self-defense statute: Use of force by aggressor.
Sometimes when you’re writing part of a column you keep getting close to the meaning of what you want to say but you don’t quite get there, the full formulation of the idea eludes you. Then two days later, relaxing in conversation with friends, the thought comes to you whole, and you think: That’s what I meant to say. That’s what I was trying to get. This week I had one of those moments.
In one of the toughest defeats of President Obama´s political career, the Senate this week sank a piece of gun control legislation that the White House had been laboring over for months. As the post-mortems of the loss begin, some have questioned if gun control got bogged down with the president´s ongoing struggle to effectively operate the levers of power in Washington. Culprits for the bill´s demise are plenty — from gutless Senate moderates, to inflexible pro-gun conservatives, to a brazen gun lobby that waged an aggressive, and sometimes misleading, campaign to defeat the legislation.
I remember it so clearly — a memory you can only remember so clearly when it is from sadness. You can’t let it go. I was sitting in the mud by the rear passenger side tire of my old Acura cradling my one year old in the steady, driving rain. I was sobbing doing my best not to fall apart in front of my little girl. But the tears ran. My throat hurt as I tried to suppress the guttural cries I wanted to cry there in the mud.
Pat Toomey obviously isn´t flummoxed by basic arithmetic. The Republican Pennsylvania senator is proving that as he and Sen. Joe Manchin, D-W.Va., attempt to modestly modify requirements for criminal background checks on gun purchases. The two senators, both gun-rights advocates, are pushing legislation that would require such checks for all gun show and Internet sales. Toomey is being labeled a Judas in conservative circles for backing what is being described incorrectly as a gun control bill. It is not.
Kermit Gosnell, a Pennsylvania abortion doctor, is on trial for a lurid series of lurid crimes at his clinic. I can´t bring myself to describe them, so I´ll let Kirsten Powers do it. Infant beheadings. Severed baby feet in jars. A child screaming after it was delivered alive during an abortion procedure. Haven´t heard about these sickening accusations? It´s not your fault. Since the murder trial of Pennsylvania abortion doctor Kermit Gosnell began March 18, there has been precious little coverage of the case that should be on every news show and front page.
President Obama will cast growing income inequality and a decline in economic mobility as a “fundamental threat to the American dream” during a speech Wednesday in Washington. The speech will serve as an early preview for next year’s State of the Union address, according to a White House official, who said Obama would focus much of his energy over the next three years on the issue. “The decisions we make over the next few years will determine whether or not our children will grow up in an America where, if you work hard, you can get ahead,” the official said.
Good stuff from Jonathan Turley at today’s House hearing on executive power, although I regret that I couldn’t find a more user-friendly format for you to watch. There’s no compilation clip; you’ll have to make do with the C-SPAN embed by fast-forwarding to the time cues I give you and being patient while the vid buffers (and buffers, and buffers).(Snip)That brings us to point two: Even if Congress can’t stop Obama, the courts can. The problem there, though, says Turley, is that O and the DOJ have argued successfully in many cases that no one has standing to sue him
Bill Clinton, the cliché goes, was the first black president, no matter his skin color. That being the case, Barack Obama is not the first black president, or the first African-American president, if you prefer, but the first hippie president. Clinton’s southern background and lifestyle were indeed more typically black, just as Obama’s was more typically hippie. And we’re not just talking about the “Choom gang” here, scarfing “Maui Wowie” on the sands of Oahu. We’re talking about all of it, the whole multi-culti-missing-white-mother-vanished-Kenyan-father-anti-imperialist-America-is-always-the-enemy-and-don’t-you-forget-it-nine-yards. And like most hippie culture as I knew and experienced it, it wasn’t about “peace and love.” Not
During a presentation at the White House in which President Barack Obama touted the benefits of the Affordable Care Act, the president declared that his signature health care reform law was not going to be repealed. This assertion led his administration members, his staff, and audience members to rise from their seats and give the president a standing ovation. Obama said that ACA opponents’ alternative to the health care reform law is to champion repeal and going back to the health care delivery system status quo ante. He specifically cited Sen. Mitch McConnell (R-KY) who he said was asked directly for
A woman has revealed how difficult it is to eat healthily and stay full when living off an average food stamp budget. Melinda Moulton, from Huntington, Vermont, was one of 200 people to take part in the 3Squares Challenge, which saw her living for a week on just $36 worth of food, or around $1.71 a meal. Opting to try and eat as healthily as possible, Ms Moulton resorted to cheap foods like yogurt for breakfast, two handfuls of peanuts for lunch and lentil stew for dinner, all of which left her unsatisfied.´I don´t know how people do it,´ said
[Video] President Obama on Wednesday declared that addressing income inequality would be the focus of “all” of the White House’s efforts “for the rest of my presidency.” In a sweeping address that touched on raising the minimum wage, investing in infrastructure and ending tax breaks for the wealthy, Obama warned that the American economy has become “profoundly unequal,” declaring economic mobility the “challenge of our time.” “The combined trends of increasing inequality and decreasing mobility pose a fundamental threat to the American dream, our way of life, and what we stand for around the globe,” he said in an hour-long
Just over two weeks ago, MSNBC host Martin Bashir delivered a harsh piece of commentary that culminated in the suggestion that someone should “s-h-i-t” in former Alaska Governor Sarah Palin‘s (R-AK) mouth. Bashir offered an abject apology on his next broadcast, but a chorus of critics continued to demand action against the host. After a reported “vacation” for the host earlier this week, Bashir announced, Wednesday afternoon, that MSNBC and Martin Bashir are parting ways. Here’s the statement from Martin Bashir, via email: After making an on-air apology, I asked for permission to take some additional time out around the Thanksgiving holiday. Upon