Labor Farce: Obama Decrees Unemployment Rate Under 8%

Although failed President Barack Obama’s disasterous economy added only 114,000 jobs in September, data manipulation by the Bureau of Labor Statistics showed the top-line Unemployment Rate number falling to 7.8%.

The “drop” to the Unemployment level he found when he took office coincidentally comes two days after his disasterous debate performance against Mitt Romney in Denver, CO.

The U-6 rate, or “Real Unemployment Rate” that includes those who have given up looking for work remained at 14.7%

The BSLS also magically found 86,000 more jobs in July and August than they had previously reported.  I guess they stopped in at a lot of 7-11s and Wendy’s.

This would be great news if it meant more people were actually working and the economy was improving.  But it doesn’t, and it’s not. It’s bullshit manipulation.

Former GE CEO Jack Welch calls BS.

No President since FDR has been re-elected with unemployment over 7.2%.  Look for more magic invisible jobs and fast-food jockeys in a month.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.