After I wrote about the birth/death adjustment and the strange numbers used by the government to come up with the claim that over 160,000 jobs were created in July even as the unemployment rate went up, I got email telling me that I was mistaken. Since I want to be accurate in what gets posted here, I went back an did a further review of the numbers. Here are some key facts:
1) The number of unemployed people rose by 45,000 in July.
2) The number of people in the labor force fell by 150,000 in July.
3) The number of people who are employed fell by 195,000 in July.
4) The number of people forced to accept part time employment rather than full time rose in July so that the underemployment rate hit 15%, a recent high.
Each of these are government statistics. Fewer people were employed; more people had to take part time work; huge numbers of folks gave up and dropped out of the labor force, but as if by magic 163,000 jobs were created. All those new jobs resulted in no more folks at work. All those new jobs resulted in no more people in the labor force. All those new jobs resulted in no lowering of the unemployment rate even though there were massive departures from the workforce.
The truth is that the job creation numbers look -- as Crudele said in the New York Post -- fudged. That's a nice way of saying that the Obamacrats lied to help Obama.
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