Saturday, October 6, 2012

The New Jobs Report's figures DON'T ADD UP

....."This morning, we found out that the unemployment rate has fallen to its lowest level since I took office," Obama said at a Virginia rally Friday. "It's a reminder that this country has come too far to turn back now. ... We've made too much progress to return to the policies that led to the crisis in the first place." 
But skeptics pointed out that not only is 7.8 percent unemployment hardly a "real recovery," but the report reflected an uptick in part-time jobs and the number of self-employed. Further, they stressed that there appeared to be a huge disconnect between the modest number of new jobs reported and the significant decrease in the unemployment rate. 
The Labor Department, based on a broad survey of employers, said 114,000 jobs were added in September. But the unemployment rate itself is based on a separate "household survey," which showed a whopping 873,000 new jobs in September.
Read the full article HERE.

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