~ {{{ ... CRICKETS ... }}} In Search of 1.1 Million Jobs Claimed by Obama; Where the Hell are They...?? ~

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~ {{{ ... CRICKETS ... }}} In Search of 1.1 Million Jobs Claimed by Obama; Where the Hell are They...?? ~

~ From the website:

On November 5, the administration was singing the praises of an economic recovery that allegedly created 1.1 million jobs this year. Before we dive into what's really happening with jobs, please consider Remarks by the President on the October Jobs Report

THE PRESIDENT: "Good morning, everybody. We are in the middle of a tough fight to get our economy growing faster, so that businesses across our country can open and expand, so that people can find good jobs, and so that we can repair the terrible damage that was done by the worst recession in our lifetimes. Today we received some encouraging news.

Based on today’s jobs report, we’ve now seen private-sector job growth for 10 straight months. That means that since January, the private sector has added 1.1 million jobs. Let me repeat, over the course of the last several months, we’ve seen over a million jobs added to the American economy. In October, the private sector has added 159,000 jobs. And we learned that businesses added more than 100,000 jobs in both August and September as well. So we’ve now seen four months of private-sector job growth above 100,000 [jobs], which is the first time we’ve seen this kind of increase in over four years."

151,000 Jobs In October? Really?

Inquiring minds just might be wondering how we created 151,000 jobs in October. As it turns out, about 100,000 of them was a seasonal adjustment, and I am not even talking about the much maligned BLS Birth-Death Model that 10 months out of 12 presumes the economy added jobs that no once can see.

I am talking about regular "seasonal adjustment" factors, and last month was a doozie. The latest issue of Barrons discusses the The magic of seasonal adjustment.

~ More, from the website:

[link to globaleconomicanalysis.blogspot.com]

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~ OP DISCLAIMER: Yeah, I know that posting this info will INEVITABLY get the libtards and repugtards verbally vilifying each other, and that is not my intention... I have made it clear TIME AND TIME AGAIN, that I believe that these puppets are ONE AND THE SAME (so don't bother calling me a racist). I am posting this info for those who keep track of those who use fuzzy math, and enjoy having the solid facts to prove it. That is all.

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Last Edited by BloodRed on 11/17/2010 12:08 PM