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  • omni1tsd omni1tsd Oct 5, 2012 4:20 PM Flag

    Hurry and get you one of those Obama holiday season jobs!

    by John Nolte5 Oct 2012, 6:40 AM PDT390post a comment

    As soon as ex-General Electric CEO Jack Welch fired off a tweet questioning today's just released "unbelievable jobs numbers," the media went into a frenzy talking about how "conservatives" were launching conspiracy theories. Well, that's handy for the media and the Obama campaign, but it's not just "conservatives" who are confused by a full 0.3% drop in unemployment when only 114k jobs were created.

    CNBC is as confused as the rest of us:

    Job growth remained tame in September, with the economy creating just 114,000 net new positions though the unemployment rate fell to 7.8 percent, the first time it has been below 8 percent in 43 months.

    The report presented a slew of contradictory data points, with the total employment level soaring despite the low net number.

    The falling jobless rate had been a function as much of the continued shrinking in the labor force as it was an increase in new positions.

    On the air, CNBC seemed equally perplexed by the biggest one-time drop in the unemployment rate in 29 years!

    ABC News' Chris Cuomo is also skeptical of the numbers:

    --


    Chris Cuomo✔
    @ChrisCuomo

    #unemployment is at 7.8% in September. Except it really wasn't. It is much higher, w/ underemplyd and those who stopped looking. #notfixed

 
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