Are the Jobs Statistics Manipulated?
The Bureau of Labor Statistics released a jobs report today stating that U.S. unemployment dropped from 8.1 to 7.8 percent. 114,000 jobs were added last month lower than it was this time during 2009 in which most of the jobs added were part time workers.
I realize that the timing maybe suspicious in light of Obama’s drubbing at the Presidential debate Tuesday night. Some are already claiming this report was manipulated to make the President look good. I am inclined to believe the job growth report is accurate despite the other contradictory data in it. The report, however, does not take into account the full context of what the numbers ultimately symbolize.
Economists have said that it will take 250 to 300,000 jobs a month in order for the economy to properly heal from the damage done resulting from the bad effects of the recession we are in. 114,000 jobs is a tepid amount if you take into account the amount of job creation it will take for the U.S. to recover and is the result of the President’s incompetent policies.
If the economy is to grow it must be liberated by lifting the taxes, spending, and regulations put in place by the President and Congressional Democrats for 2 years since Obama took office. The new jobs figures are not an indication of a recovery and one will not happen if the President is re-elected.
UPDATE 10/08/2012: Fox Business Network has published a very good article by journalist Elizabeth McDonald at their website pointing out that the unemployment rate is really 11.63% and not 8.7%.