Friday, October 05, 2012

Reason for Today's Unemployment Rate Decline from 8.1% to 7.8%

The reason is simply that the number of "PART-TIME" people employed for economic reasons (That is, can not find a full-time job.) increased by 582,000, which represents about two-thirds of the increase in employment for September.  This increase in part-time employment is the most since October 2011, and the largest one month jump since February 2009.  Wow!  You know those jobs that pay minimum wage with no benefits, such as health and retirement.  But, in this election year cycle, a job is a job to those politicians.  Oh, speaking of politicians, do you know what the unemployment rate is for government workers?  Would you believe 4.3%?  So, the next unemployment report for October 2012 will be given just prior to the November election.  Now, my guess is that we will see further improvement, of course manipulated by the BLS, in the unemployment rate for October 2012.  Maybe, just maybe the BLS can get that rate under 7%.  I know the BLS will definitely give it its best to do so.

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