Good news politically for the president. Better news economically for the country - as opposed to last month's shit sandwich glossed over by the U3 rate dropping. But as Werthless notes we're basically treading water and still not experiencing the typical post recession growth needed to get back to normal.

If labor force participation rate was the same as when Obama took office, U3 rate would be 10.7%. If labor force participation was the same as it was in January 2012, it'd be 8.3%.

Isn't that the same Jack Welch who leaned on NBC News to call Florida early for W. in 2000?

The guy is a fucking scumbag, and this is projection so obvious Freud himself would just waggle his eyebrows, point and nod.

Edit: also, if one were to juke the job growth number, it wouldn't be to 114k which is the definition of not-bad, not-great. You'd put it at something plausible and clearly positive but not eye-popping, like 190k.

However, with this news it means Obama fulfilled one of his promises that had been a go to attack line for republicans. Now they have to change their tune yet again.

i hate him for popularizing "stack ranking". what a #$!&@ty management concept.

jamiethekiller wrote:republicans were really counting on a bad number. really threw a wrench into their campaigning plans

If this is their best argument, their weak candidate really doesn't have a prayer of gaining ground in battleground states:

House Majority Leader Eric Cantor (R-Va.) released a statement acknowledging that Friday’s jobs report “offered some encouraging news” but “simply isn’t good enough.

He adds, “7.8% unemployment should not be cause for celebration. Millions have given up looking for a job, and left the workforce. The workforce participation rate hasn’t been this low since Jimmy Carter was President. America needs a new direction.”

Worst thing that could've happened to Romney 36 hours after getting his first positive media reaction since the RNC (and really his best media reaction during this entire 2+ year campaign cycle).

CalvinBall wrote:However, with this news it means Obama fulfilled one of his promises that had been a go to attack line for republicans. Now they have to change their tune yet again.

Which promise is that? Get unempoyment rate under 8?

Also, the pattern of revisions seems to dole out good and bad news equally for the two parties. Last month's topline number was 96k, bad for the administration. That's been revised to 142k, which would have been a positive (slightly). If they were manipulating, the trend would run consistently opposite: better initial numbers, worse revisions.

At werthless

Yeah

I hadnt looked at this graph before... labor force participation dropped after the 2001 mini-recession, but hardly moved at all after the previous two. It's been a sharper drop this time around. (Last month numbers not included in graphic)

jerseyhoya wrote:If labor force participation rate was the same as when Obama took office, U3 rate would be 10.7%. If labor force participation was the same as it was in January 2012, it'd be 8.3%.

this is the first month in four years where the total employed/population ratio went up and you wanna bring up when the pres first took office and we were still bleeding jobs from the recession?

CalvinBall wrote:At werthless

Yeah

I dont think it will change the line of attack against Obama and lousy job creation. It will, however, force the GOP to embrace (!) nuance (!). It will be tough.

When the boomers lose their job a lot of them just retire

Baby Boomers are starting to hit retirement age in pretty large numbers, and the pace of immigration has slowed in the downturn. Would seem a stretch to blame either of these things on Obama, though I'm sure Fox will give it a try.

bringing up the first few months of his presidency wrt to the job numbers is absurd and disingenuous

And remember how we were talking yesterday about the theory that Romney might've won the debate but still hurt himself through the PBS/Big Bird comment?

http://www.washingtonpost.com/blogs/she-the-people/wp/2012/10/04/big-bird-will-haunt-mitt-romney/

Also, I sincerely love you guys for using U3, U5 and U6 and assuming everyone knows what they mean. INTERNET FRIENDS FTW!

waiting for the phanatic to come to his pal's defense

dajafi wrote:Also, I sincerely love you guys for using U3, U5 and U6 and assuming everyone knows what they mean. INTERNET FRIENDS FTW!

they're the newer incarnations of bono's band right

Bucky wrote:

dajafi wrote:Also, I sincerely love you guys for using U3, U5 and U6 and assuming everyone knows what they mean. INTERNET FRIENDS FTW!

they're the newer incarnations of bono's band right

BUCKY