Unemployment 7.8% October Surprise
After having his hat handed to him and being shown the door by his opponent in a debate performance so poor for Barack Obama that his only recourse was to bully Mitt Romney on the campaign stump the next day, what is a candidate hoping for re-election supposed to do to change the momentum?
Have the Labor Department revise previous unemployment numbers to show that the economy created 86,000 more jobs during the summer than first reported, then conclude that as a result, the unemployment rate has actually fallen below 8.1 per cent in for the first time in almost four years.
The Labor Department reported the economy had added 114,000 jobs in September.: That is not fast enough to keep pace with population growth, much less reduce the rate of unemployment.
If growth in the human population is creating new workers faster than economic growth is creating new jobs, how is it possible that the unemployment number went down?
And why did it unexpectedly happen in a report issued immediately after an Obama debate performance that left him on the ropes and displayed his weakness to a television audience of 67.2 million?
How about that?: A sudden, unexpected, unexplainable change in the jobs numbers making them more favorable to Obama’s re-election aspirations.: And it just so happens to occur at a crucial moment in the presidential race.
The fact is so many people have had such little success finding work they have fallen out the unemployment data pool. : How does that mean jobs outlooks are improving?: They have been out of work for so long they have reached their 99 week unemployment insurance benefits limit and thus are no longer counted by the Labor Department.
This artificially lowers the unemployment statistics and creates a false impression that “progress” is being made in the single most important number to struggling unemployed Americans.
Of course, this does not deter the “re-elect Barack Obama at any and all costs” members of the “progressive” Party Pravda.
What was their reaction?
Yahoo News headline: “US jobless rate falls to 7.8 pct., 44-month low.”: The sub-headline: “US unemployment rate falls to 7.8 pct., lowest since 2009, giving Obama a potential boost.”
First paragraph: “The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years and giving President Barack Obama a potential boost with the election a month away.”
If this is not intended solely to make Obama look good at precisely the moment his campaign hits rock bottom, then Hugh Hefner is a virgin.