They say that no President post war has ever won reelection with an unemployment rate above 7.2%. Then again President Obama has already broken through quite some barriers hasn’t he? That is why today’s news of the jobless rate falling from 8.1 to 7.8% has been received as quite a boon to the President’s reelection bid for 2012.
The rate declined from 8.1 percent because the number of people who said they were employed soared by 873,000 – an encouraging sign for an economy that’s been struggling to create enough jobs.
The number of unemployed Americans is now 12.1 million, the fewest since January 2009.
The Labor Department said employers added 114,000 jobs in September. It also said the economy created 86,000 more jobs in July and August than the department had initially estimated.
Wages rose in September. And more people started looking for work.
The revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months.
The 7.8 percent unemployment rate for September matches the rate in January 2009, when Obama took office. In the months after Obama’s inauguration, the rate rose sharply and had topped 8 percent for 43 straight months.
The decline in the unemployment rate comes at a critical moment for Obama, who is coming off a weak debate performance this week against GOP challenger Mitt Romney.
The September employment report may be the last that might sway undecided voters. The October jobs report will be released only four days before Election Day. [source and more info]
Because these numbers seemed to ‘fall out of the sky like a miracle’:jacking-off motion: Many on the other end of the political spectrum see this latest good news for the President as a scheme behind the scenes and that the Obama administration has some how cooked these numbers to make the President look better in the eyes of the public. Especially coming off of a debate where he looked ill prepared and soft gloved against a sneaky snake-like smiling Mitt Romney.
Yeah.. it’s being viewed as a real life conspiracy….
Labor Secretary Hilda Solis was asked on CNBC about suspicions that the Obama administration might have skewed the jobs numbers to aid Obama’s re-election prospects.
“I’m insulted when I hear that because we have a very professional civil service,” Solis said. “I have the highest regard for our professionals that do the calculations at the (Bureau of Labor Statistics). They are trained economists.” [source]
Jack Welch, former CEO of GE, who before Steve Jobs took the title, was known as America’s best ceo in history, took to twitter and had this to say:
Unbelievable jobs numbers..these Chicago guys will do anything..can’t debate so change numbers [source]
Now what is funny to me about people on the Right, is that when employment numbers are extremely high? Blame the President. When the numbers are really low… oh ok…Blame the President.
This is what Mitt Romney had to say:
This is not what a real recovery looks like. We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office. If not for all the people who have simply dropped out of the labor force, the real unemployment rate would be closer to 11%. The results of President Obama’s failed policies are staggering – 23 million Americans struggling for work, nearly one in six living in poverty and 47 million people dependent on food stamps to feed themselves and their families. The choice in this election is clear. Under President Obama, we’ll get another four years like the last four years. If I’m elected, we will have a real recovery with pro-growth policies that will create 12 million new jobs and rising incomes for everyone.”
For me, the news is still fresh and I can’t wait to see what happens in the coming days with all of this.
Is it convenient, sure.
Does it smell of conspiracy? Well.. a conspiracy can be found in anything if you look hard enough or if…well if you are a lil silly.
What is YOUR take on all of this…