The Last Job Report Is Kind to Obama: 171,000 Jobs Added in October

Comments

As usual, half the morons will claim that unemployment is only going down because people are quitting their job searches, and the other half will simply claim a conspiracy.

Theodore Gorath on November 2, 2012 at 5:53 AM

Romney's carrying on with his whole "but it's not good enough! I'd have done it better, sooner!" shtick. Haters gonna hate, they can't even appreciate.

venomlash on November 2, 2012 at 6:44 AM

How is the media in all serousness claiming this election is going to be close? Obama's locked in for a second term at this point.

The concern I have right now is the race between "Back Alley Aborition" McKenna and Right to Privacy Inslee

Cato the Younger Younger on November 2, 2012 at 7:05 AM

@ ' How is the media in all seriousness claiming this election is going to be close? '
perhaps because, and i fear it greatly, it will be close

reverend dr dj riz on November 2, 2012 at 7:22 AM

@3:

Hmm, not a bad point. Let us see how the last republican president did in his last November on the job as far as job numbers go:

What? -.4%? That is not even growth! Hmm, maybe we should see how his numbers were at the start of his term...What? From 3.9% to 7.9% That is even worse! A loss of 4%!

And Romney wants to roll out the same policies that Bush did when unemployment jumped 4%? that sounds like a terrible idea. I think I will stick with the candidate who is growing our economy, not one who will tank it like the last republican did, thanks!

Theodore Gorath on November 2, 2012 at 7:39 AM

It's worthwhile to note that Obama supporters are in a similar situation Obama detractors were in last month: they have to invoke people returning to the workforce to explain unemployment numbers. Why don't we all discuss employment numbers instead of somewhat meaningless unemployment rate and we'd avoid looking like hypocrites. That said, at this rate, it'd take another decade to recover the employment rate of 2007.

anon1256 on November 2, 2012 at 7:52 AM

@7, that's not far off from where most economists are thinking it will take for a full recovery. And though I think Obama is safe for a second term I'm really starting to shit myself about 2016. If there isn't a massive recovery in the next three years the GOP will get the White House back. And a President Ryan is enough to make me consider killing myself.

Cato the Younger Younger on November 2, 2012 at 7:55 AM

@8, you don't think that steady improvement will encourage people to "stay the course", and stick with Hillary?

Catherwood on November 2, 2012 at 8:08 AM

A lot depends on what the House and Senate do. The unemployment rate would probably be under 7% right now if the Republicans in the House passed the American Jobs Act. If you look closely at the numbers for the last couple years, you will see that most sectors of the economy have done well. But the public sector has lagged. This makes sense if you think about what is happening in the state and municipal governments. They have laid off workers because they had insufficient rainy day funds and usually can't run a deficit. This makes sense, but it is crazy. No economist in the world would recommend this. The public sector should be pulling the rest of the economy out of a recession, not dragging it down. But that has been happening for the last year or two, and it is largely because the House Republicans refuse to enact a bill that every expert says will reduce unemployment.

Ross on November 2, 2012 at 8:23 AM

@9, No, Americans are geared to wanting everything right now and don't want to wait for anything, let alone economic recovery.

Cato the Younger Younger on November 2, 2012 at 8:25 AM

@10, and that's the other problem. Obama is going to have the same congressional make up come January. The Dems will hold the Senate with a few pick ups but not enough to hit 60 and the gerrymadering of congressional districts after the 2010 census is in effect making it very unlikely the GOP will lose control there.

It's going to be two years of deadlock and then two years of what amounts to Obama being a essentially a lame duck. (no one pays attention to an outgoing President the last two years of their term when they aren't going to be on the ballot again)

Cato the Younger Younger on November 2, 2012 at 8:28 AM

YAY!!

Go Obama. May have to call in sick on Wednesday if I stay up too late celebrating President Obama's win.

Patricia Kayden on November 2, 2012 at 9:01 AM

You people baffle me. Once again it's the mainstream arguing with the "truthers" about the proper shade of lipstick to put on the pig but nobody's talking about the pig itself anymore. The offical unemployment number, statically speaking, is fundamentally fucked - does not include the U6/underemployed or the painfully relevant number of folks no longer seeking employment (apparently those people either vaporize or transform into plants). We changed this calculation in 1993 beacuse the end figure was becoming increasingly uncomfortable. This explanation of the statistic's basic composition is not a conspiracy theory - it doesn't matter if the BLS/Obama/shadow government/Jay-z's Illuminati task force etc. are manipulating this number or not - the number itself is horse shit. 12+12 is undoubtedly 24 but it's a not sufficient indicator of my body weight - but you folks will keep bickering about whether or not the first 12 was manipulated - as you've been conditioned to do. It's maddening.

46 million people on food stamps and a mind blowingly magical CPI index that suggests there is no inflation occurring (the product packaging at the super market is getting lighter because your arms are getting stronger - "studies show") but those supporting the incumbent (either party) will continue to spout the "recovery is around the corner" insanity citing statistics they don't understand framed within a myopic context designed (conspiracy?) to keep you arguing about the
Simply. Fucking. Irrelevant.

Meanwhile - back in the world of reality the real unemployment rate is in the high teens and inflation is accelerating while we hiss and spit at the proverbial bat shit right/left wing "conspiracy nuts" who dare question the figures copiuosly flowing from the Ministry of Truth. We are so frustrated with these filthy paranoid chat room simpletons who constantly propagate ever increasing absurdities - like, say, a rate rigging conspiracy tied to $800 trillion dollars in loans over the last three decades which the US and UK governments were fully aware of - stunning tin foil hat bullshit like this is why we hate all truthers - they even make up fictious bullshit names for these things, like "LIBOR" - whatever the fuck that is - why are they so paranoid anyway?

I've been working in data analysis for almost two decades now and I'm horrified at how easily/willingly/systemically people are manipulated by "the numbers" - I'm horrified by how low the "conspiracy theory" bar has been lowered in regards to alternative analysis - and how this tragicaaly ironic mainstream "show me the numbers" basis for easy dismissal has become far too comforting for an increasingly desperate, distracted and confused public. Data is the most abused substance on planet earth and just like a crack whore (of which roughy 74% are the ex-wives of filthy truthers) you ultimately don't care about the quality or lineage of the source product as long as it gets you high - hence "recovery is just around the corner"

and it feels so good.
"Forward" indeed - by all means

Sebastian M. on November 2, 2012 at 9:08 AM

I love all of you but you people baffle me. Once again we have the mainstream arguing with the "truthers" about the proper shade of lipstick to put on the pig but nobody's talking about the pig itself anymore. The offical unemployment number, statically speaking, is fundamentally fucked - does not include the U6/underemployed or the painfully relevant number of folks no longer seeking employment (apparently those people either vaporize or transform into plants). We changed this calculation back in 93 because the end figure was becoming increasingly uncomfortable. This explanation of the statistic's basic composition is not a conspiracy theory - it doesn't matter if the BLS/Obama/shadow government/Jay-z's Illuminati task force etc. are manipulating this number or not - the number itself is horse shit. 12+12 is undoubtedly 24 but it's a not sufficient indicator of my body weight - but you folks will keep bickering about whether or not the first 12 was manipulated - as you've been conditioned to do. It's maddening.

46 million people on food stamps and a mind blowingly magical CPI index that suggests there is no inflation occurring (the product packaging at the super market is getting lighter because your arms are getting stronger - "studies show") but those supporting the incumbent (either party) will continue to spout the "recovery is around the corner" insanity citing statistics they don't understand framed within a myopic context designed (conspiracy?) to keep you arguing about the
Simply. Fucking. Irrelevant.

Meanwhile - back in the world of reality the real unemployment rate is in the high teens and inflation is accelerating while we hiss and spit at the proverbial bat shit right/left wing "conspiracy nuts" who dare question the figures copiuosly flowing from the Ministry of Truth. We are so frustrated with these filthy paranoid chat room simpletons who constantly propagate ever increasing absurdities - like, say, a rate rigging conspiracy tied to $800 trillion dollars in loans over the last three decades which the US and UK governments were fully aware of - stunning tin foil hat bullshit like this is why we hate all truthers - they even make up fictitious names for these things, like "LIBOR" - whatever the fuck that is - why are they so paranoid anyway?

I've been working in data analysis for almost two decades now and I'm horrified at how easily/willingly/systemically people are manipulated by "the numbers" - I'm horrified by how low the "conspiracy theory" bar has been lowered in regards to alternative analysis or anything that challenges the accepted narrative - and how this tragically ironic mainstream "show me the numbers" basis for easy dismissal has become far too comforting for an increasingly desperate, distracted and confused public. I'm convinced, data is the most abused substance on planet earth - and just like a crack whore (of which roughy 74% are the ex-wives of filthy truthers) you ultimately don't care about the quality or lineage of the source product as long as it gets you high - hence "recovery is just around the corner"

and it feels so good.
"Forward" indeed - by all means.

on November 2, 2012 at 9:54 AM

@8, There won't be a recovery in the next 4 years. Another bubble may fuel a temporary increase in low paying service jobs but since, short of a collapse, we won't significantly address the structural crisis (one of dwindling cheap fossil fuels and increasing demand), poverty and inequality will most probably go up.

anon1256 on November 2, 2012 at 10:10 AM

@4: My theory is because if it's not a close race, the pundits have essentially nothing exciting to talk about.

Orv on November 2, 2012 at 10:16 AM

Reality check... Unemployment is up this month and higher than when Obama took office.

Not a good thing.

You_Gotta_Be_Kidding_Me on November 2, 2012 at 11:24 AM

@8,

Paul Ryan's going to have to tone down the douchebaggery to have a chance in hell at the White House. That said, it would be very fitting for this country to have a president who reeks of Axe body spray.

keshmeshi on November 2, 2012 at 12:54 PM

But Mr. Romney says this report is a "sad reminder" of ... something or other.

Maybe a sad reminder of how Ohio got away from him.

RonK, Seattle on November 2, 2012 at 1:18 PM

The Last Job Report Is Kind to Obama: 171,000 Jobs Added in October

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