September unemployment rate lowest since 2008?, 248k jobs added, Truth is more people dropped out of labor force than jobs added, Participation rate down 3 percent since Jan 2009, Excessive part time jobs
“Over the last six months, of the net job creation, 97 percent of that is part-time work,”…Keith Hall, former BLS chief
“Nearly half of U.S. companies are reluctant to hire full-time employees because of the ACA. One in five firms indicates they are likely to hire fewer employees, and another one in 10 may lay off current employees in response to the law.
Other firms will shift toward part-time workers. More than 40 percent of CFOs say their companies will consider switching some jobs to less than 30 hours per week or targeting part-time workers for future employment.”…Duke University Fuqua School of Business December 11, 2013
“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″
It is unbelievable to hear the distorted jobs data regurgitated by so many “news sources”, excuse me, entertainment sources.
The US Labor Department reported that the September 2014 unemployment rate dropped to 5.9 percent.
Here is an example from Market Watch.
“Unemployment falls below 6% for first time since 2008 as U.S. adds 248,000 jobs
Jobs growth accelerated in September and hiring in August was much stronger than initially reported, reflecting a U.S. economy that entered the fall with growing momentum.
The U.S. added 248,000 jobs outside the farm sector, topping the MarketWatch-compiled economist forecast of 220,000. Sustained gains in hiring, along with more people dropping out of the labor force, also pushed the U.S. unemployment rate down to 5.9% from 6.1% to mark a six-year low, the Labor Department reported Friday. The last time the jobless rate was below 6% was in 2008.”
Also reported by the Labor Dept. and ignored by most reports is the following.
There were 315,000 more people not in the labor force in September. That is far more than the 248,000 jobs that were added.
The labor force participation rate at 62.7 percent is 3 percent higher than when Obama took office.
They are comparing the current unemployment rate to 2008. The rate was 5.8 percent in July 2008. However, the participation rate then was 66.1 percent.
That is 3.4 percent higher than today.
You do the math!
Also, there were 45,000 more people in September , not in the labor force who want a jobs now.
And don’t forget this from the Labor Dept.
“The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed in September at 7.1 million. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job.”