Friday, October 5, 2012

Today in the Squirrel Offensive (updated)

In order to maintain the current unemployment rate, the US must add around 125k jobs every month.

We were told earlier this week an estimated 114k jobs were created last month, and the resulting unemployment rate would rise from 8.1% to 8.2%.

Then the debate happened.

Today we are told that 114k jobs were created last month, but the unemployment rate drops to 7.8%.

I don't think the NFL refs ending the lockout had that kind of effect.

I believe it is blatantly obvious that someone is massaging the numbers.  And that's the point of the Squirrel Offensive: take the spotlight off of TEH PRECIOUS and make people talk about anything else.

UPDATE: Here is a link to the BLS report.  Some highlights:
  • The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.8 million and accounted for 40.1 percent of the unemployed. (See table A-12.).
  • The civilian labor force rose by 418,000 to 155.1 million in September, while the labor force participation rate was little changed at 63.6 percent. (See table A-1.)
  • The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time
    job. (See table A-8.)
  • Among the major worker groups, the unemployment rates for adult men (7.3 percent), adult women (7.0 percent), and whites (7.0 percent) declined over the month.  The unemployment rates for teenagers (23.7 percent), blacks (13.4 percent), and Hispanics (9.9 percent) were little changed. The jobless rate for Asians, at 4.8 percent (not seasonally adjusted), fell over the year. (See tables A-1, A-2, and A-3.)
In a nutshell-very little change in long term employment.  All gains are from part-time employment.  This is not a good thing.

Also noted that blacks/hispanic/youth unemployment remains unchanged. 

It's a shame we don't have a VP candidate who's good with numbers to debate Biden next week.

Last week I went 2-0-1, making me 3-8-1 on the season.  This is quantifiable improvement, unlike the above job numbers.

Minnesota (-5.5) over Tennessee
Cincinnati (-3.5) over Miami
Patriots (-6.5) over Denver. 

After The Joshua Tree/Rattle and Hum, Bono's lyrical ability began to drop off a touch.  Not much, but the peak was evident.

The Edge, however, kept right on being awesome through the 90's.
This song also represents the best work of Adam Clayton.

Everyone enjoy your weekends.  Go State, beat Northwestern!!


K T Cat said...

I think the rate dropped because people left the workforce

drozz said...

will update once i get through the report