October 6, 2012

INVESTOR’S BUSINESS DAILY: Even If Obama Did Cook The Jobs Numbers, They Still Stink. “The fact is that even with these inexplicable results, this jobs report shows an economy that continues to struggle. After all, an economy that’s creating just 114,000 jobs is barely producing enough new jobs to keep up with population growth, much less drive down the real unemployment rate. What’s more, the drop in the official unemployment rate, if those numbers are to be believed, was driven largely by a big upturn in part-time jobs. Workers who can’t find full-time work, or forced to take huge pay cuts to land work, are not signs of forward momentum. And that’s why the BLS’ broader, but little noticed,measure of the unemployed — which includes discouraged workers and those working part time because they can’t find full-time jobs — remained unchanged in September at a gut-wrenching 14.7%.”