subrob1967 -> RE: 7.8% and I have a bridge to sell too (10/5/2012 7:33:27 PM)
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quote:
ORIGINAL: Hillwilliam Isn't it amazing that most of the same folks who were gleefully crowing like a bunch of carrion birds when the numbers were high are now calling bullshit as they drop? Only when the numbers offered are bullshit... You can't tell me you buy these numbers Bill. quote:
By Randall Forsyth Curb your enthusiasm over the surprise 0.3 percentage point drop in September’s unemployment rate, to 7.8%. It was largely because of a surge in the number of part-time workers who would really rather have (or need) full-time jobs. According to the survey of households, from which the jobless rate is derived, 873,000 people found jobs last month–which is a huge gain. But, according to the Bureau of Labor Statistics, 600,000 of those workers settled for part-time employment for economic reasons, not by choice. The so-called underemployment rate, dubbed U-6 by the BLS, which takes into account these involuntary part-timers and those “marginally attached” to the labor force, showed no improvement whatsoever. It still stands at a dismal 14.7%, only a marginal improvement since last May, while the headline jobless rate is down significantly from 8.2%.[ /quote] [Barrons] Like I said, you guys are celebrating temporary seasonal part time jobs... Yippie! Party on Barack, party on progressives.
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