So, About that Jobs Report…

 

By now, you’ve no doubt heard or read about the September jobs report. To be sure, the numbers look odd and don’t easily add up, but there could be a couple explanations for those hundreds of thousands of new folks who apparently hit the job market.

First is Philip Klein’s McJobs theory, which posits that most of what we’re seeing are part-time jobs in low-wage positions that don’t goose overall economic growth upwards as much as we’d expect.

Second is my shadow economy theory, which suggests we’re seeing not only a big increase in low-wage part-time jobs but also a sizable number of people who have found other ways to make ends meet.

Regardless of which is true (and I suspect both are), our economy is not recovering very well at all, which ought to be the real headline this morning.

 
  • http://www.facebook.com/profile.php?id=1446401826 Abe Chappelle

    The real headline every day should be that the equal rights amendment has yet to be passed.

  • http://www.facebook.com/profile.php?id=582370412 Hounddoggie Hundley

    Some in the white house core questioned the 7.8 Jobs report this morning even laughing and the lady said I am insulted we are professionals…cause we have a .3 percent drop by a labor group that had two of Obama’s biggest supporters on it. They are questioning this coming out same week Obama gets crushed in debate and one month before the election. The actual job figure is worse…and expected to be the lower job created than last year…THE CU6 report which is most accurate cause it take into account those who have parttime jobs looking for fulltime jobs and those who where on unemployment but have quit looking for jobs because they cant find one the real unemployment rate is over 14 % and at the rate job creation is happening it would take til 2025 before it would get even with pre recession stats.

  • http://www.facebook.com/profile.php?id=602880296 Tom Smith

    If you believe the economy is recovering well, can I interest you in a bridge?

  • http://www.facebook.com/profile.php?id=642195347 Gerry H Cleary

    Instead people are griping about big bird! Smh at priorities!!

  • http://www.facebook.com/profile.php?id=100001434708327 Pinhead Cenobite

    YES, and we have the GOP to thank for putting us in a position where we need “ECONOMIC RECOVERY”! Keep talking, we are listening!

  • http://www.facebook.com/profile.php?id=586619730 Jim Rizik

    True, but Obama is slammed if the jobless rate goes up, or down

  • http://www.facebook.com/profile.php?id=100000932680920 Tommy OConnell

    they don’t care how many people have given up looking, as long as they can get it, one way or another, below 8% so they can say “our plan worked!!”

  • http://www.facebook.com/profile.php?id=1469356349 Shyla Raef Loghides

    The fact that Obama would get out on the campaign trail today and proudly use these numbers to me shows he is a liar and or completely delusional. It also shows he doesn’t give two hoots about struggling Americans! Oh… I know his teleprompter speeches make people want to believe that he does. Who is out of touch Mr President? Do you think those barely making ends meet believe these numbers? These new numbers don’t take into account the amount of people simply giving up. In addition to the people added to welfare or that took lower wage and part time jobs! He proves he is untrustworthy at every turn. I don’t care if he’s running against BIG BIRD! In good conscience I couldn’t vote for this divisive, immoral, lying economic failure! People I beg for you to do your due diligence and don’t just vote along party lines and barry yourselves in the rhetoric! If you do ANY bi-partisan research at all you can find the TRUTH! Google Glass-Steagal and see Bill Clinton is as much to blame as Bush! We must search for truth! Google Obamas lies! Do it for yourself and your children!

  • http://www.facebook.com/profile.php?id=100000049286217 Bob Philpot
  • http://www.facebook.com/profile.php?id=1843797552 Rick Parrott

    So, a blind squirrel trips over a nut once in four years and now he’s a savior? PLEEEEEEEEEEEEEEEZZZZ!!

  • http://www.facebook.com/profile.php?id=1480616722 Evan Glen Tindle

    The BLS data uses the same methodology it’s always used. If you don’t like the numbers, you better throw out all the numbers over the past few years.

  • http://www.facebook.com/profile.php?id=100001028084957 Mora Hartley

    The ‘Jobs report’ for Sept. is BOGUS.

  • http://www.facebook.com/profile.php?id=100000080784689 Randy Lee Trinque

    Bet ya 10$ he says if he’s re-elected Jesus will return . And carnations will bloom in parking lots. He’s such a pecker

  • http://www.facebook.com/profile.php?id=100001072827998 Tex Smith

    No he will say ALLIA will return!

  • http://www.facebook.com/profile.php?id=1116514192 William R. Shaneyfelt

    Sooooo, when are they going to admit it is not a double or triple dip recession but actually a global depression that we will better get through if they let things work themselves out without clumsy government interference making them worse?

  • http://www.facebook.com/profile.php?id=371297406275174 Seniors for Future Generations
  • http://www.facebook.com/profile.php?id=100000615951634 Arthur Eastlake

    Call someone and get them to vote for Mitt.

  • http://www.facebook.com/profile.php?id=100000455724794 Rama Sikka

    JUST LIKE EVERYTHING ELSE JOB NUMBERS CAN BE WHATEVER OBMMER WANTS THEM TO BE WHEN THEY ARE THE TOP DONORS IN YOUR CAMPAIGN..
    Meet the Obama Donors at the BLS

    BY: Washington Free Beacon Staff
    October 5, 2012 1:28 pm

    At least two economists at the Bureau of Labor Statistics (BLS) have contributed to President Barack Obama’s campaign. Harley Frazis of Bethesda, MD, has contributed at least $2,000 to Obama and $9,000 to the Democratic National Convention over the last three election cycles. During his time at BLS, Harley has published a number of papers including his most recent, “How to Think About Time-Use Data: What Inferences Can We Make About Long- and Short-Run Time Use from Time Diaries?”
    http://freebeacon.com/meet-the-obama-donors-at-the-bls/

  • http://www.facebook.com/profile.php?id=100000615951634 Arthur Eastlake

    Hey obama alley ackbar!

  • http://www.facebook.com/profile.php?id=100002397334694 Chuck McAllister Sr.

    I wish I had placed a bet on the unemployment figures. I knew there would be this sudden and unexplained improvement in the numbers just before the election. If you fail at debating, excercise you creative mathematics. This isn’t the first time for him and won’t be the last.

  • http://www.facebook.com/profile.php?id=100000455724794 Rama Sikka

    HE HAS HIS BUDDIES PLACED IN ALL THE KEY PLACES SO PROTECT THATS WHY HE FAILED WHEN HE TO FACE THE TRUTH.