The American Spectator : The Spectacle Blog : The October Surprise

I was stunned into silence by this morning’s ridiculous unemployment report, showing a magical drop in the unemployment rate from 8.1% to 7.8% despite not one single other economic or employment indictator suggesting that such a gain was possible.

My (anonymous) friends at Colorado Peak Politics have a good short note on this morning’s report as I’m just too angry at the report — and reconsidering my prior statement that it’s probably not being manipulated — to write my own note other than this one…

http://coloradopeakpolitics.com/2012/10/05/october-surprise-unemployment-rate-tumbles-amid-questions/

Economist (and my friend) Brian Wesbury goes somewhat deeper into the numbers, noting “the huge rise in civilian employment was goosed by part-timers, with a 322,000 overall gain and a 582,000 increase for those working part-time for economic reasons.”

http://www.ftportfolios.com/Commentary/EconomicResearch/2012/10/5/non-farm-payrolls-increased-114,000-in-september,-unemployment-rate-falls-to-7.8percent

About the Author

Ross Kaminsky is a self-employed trader and investor and is a senior fellow of the Heartland Institute. He is the host of The Ross Kaminsky Show on Denver’s NewsRadio 850 KOA at 11 AM on most Sundays. You can reach Ross by e-mail at rossputin(at)rossputin(dot)com.

http://spectator.org/blog/2012/10/05/the-october-surprise

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