BLS = BS (October not so Surprise)

About: new model to predict unemployment sees rate at 8.1% - real time economics - wsj

Lowest since Jan. '09...
SEPT. EMPLOYMENT: +114,000...

Total employment 'highest one-month jump in 29 years'...

Welch: Obama manipulating numbers after debate performance...

BLS economists donors to Obama campaign...

Rate Plummets to 4.3% -- For Govt Workers...

Part-timers surge to 8.6 million...

Report met with suspicion...

ROMNEY: Rate more like 11%...

OBAMA: Can't turn back now...

Why does the government have to predict,



  1. unemployment
  2. jobs
  3. bullshit


Mark de LA says
... &
Source: ...

The BLS reported that while only 114,000 jobs were created in September--which would have translated into a rise in unemployment from 8.1% to 8.2%--the unemployment rate fell dramatically to 7.8%. That unusual drop is the fastest in nearly three decades, and was unexpected even in the rosiest predictions.

One reason for the rise was an upward revision of 86,000 to the July and August jobs numbers--all of which came from a 91,000 increase in the estimate of public sector jobs. Private sector job estimates were actually revised downward by 5,000.

Anecdotal info: I worked for a corporation whose sales were so bad & whose profit margins dropped near the final reorganization. What they did was revise the way they organized their accounting statistics so that the market would see upward figures compared to the previous years but the true state of the business was obscured.  In the end the President avoided jail but was replaced.

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