I would like to comment on last week’s Jobs report from the Federal Government. According to the Feds, September’s unemployment has dropped to 7.8 % from 8.1 %. This is based in part on the creation of 114,000 new non government or non -farm jobs in September. Consider this, in August, the Feds reported we created 142,000 non government and non -farm jobs. Yet with this higher number, we only dropped the unemployment rate for August from 8.2 % to 8.1 %. In addition for September, manufacturing orders dropped 5.2 %.
Last week the Feds reported 367,000 new unemployment claims. Yet the government based this drop by a supposed 825,000 new part time jobs created last month. The Feds are also reporting under U6 rate remains steady at 14.7 %. If you are not sure of that number represents, that combines people who are unemployed, under employed (can only find part time work) and the people who have given up looking for work. Last week the Federal Government reported 342,000 people left the work force.
My point is we all want more jobs but these numbers appear to be made up, I suspect for political purposes. If you check the reports for the past over 40 weeks, the unemployment rate is adjusted up a few weeks later without any fanfare.
Jobs are people’s lives and that is too important to be a political football. Job creation or number playing for political purposes