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Part-Time President Cheers Unemployment Dip (Once He’s Off the Links)

October 5, 2012

Yes, we are sure that Team Obama is very pleased that the unemployment rate fell unexpectedly .3 points to 7.8%.   http://www.bls.gov/news.release/empsit.nr0.htm

Though we are not sure that the President has gotten the message yet seeing as he may already be on the links.  There are only so many good rounds of golf to play left before winter.  He was also absent from official duties on September 11, 2012.  You recall that was the day our embassies were attacked in a vicious, planned strike in Libya and organized mobs in Cairo.  Seems Al-Qaeda is keeping on their job full-time as those initial attacks spread in jihadist fire from the initial embassies to others throughout the Muslim world in the following days.  The President was raising money in Las Vegas that night and in days subsequent to our last 9-11 continued on the campaign trail.  He also declined to attend intelligence briefings leading up to 9-11 and even on 9-12 when it was clear that our Ambassador and other U.S. citizens had been murdered. Come to think of it, this is nothing new.  He was a part-time Senator as well.    As junior Senator of Illinois, the young Mr. Obama missed a record number of votes.  http://www.sourcewatch.org/index.php?title=Barack_Obama:_U.S._presidential_election,_2008/Senate_attendance,_missed_votes and http://articles.cnn.com/2007-11-02/politics/obama.missed.votes_1_obama-spokesman-bill-burton-iranian-revolutionary-guard-rothenberg-political-report?_s=PM:POLITICS.  How many times has the President preferred his own timetable to the timetable demanded by world events?  And speaking of part-time jobs, they came roaring back:

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) rose from 8.0 million in August to 8.6 million in September. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.

So let’s hear it for the resurgence in part-time jobs.  Our President is leading the way.

But is the BLS report all that rosy?  Here is the first suggestion that maybe things aren’t on a real recovery path:

 Total employment rose by 873,000 in September, following 3 months of little change. The employment-population ratio increased by 0.4 percentage point to 58.7 percent, after edging down in the prior 2 months. The overall trend in the employment-population ratio for this year has been flat. The civilian labor force rose by 418,000 to 155.1 million in September, while the labor force participation rate was little changed at 63.6 percent.

And with all the emphasis on manufacturing from the White House:

 Manufacturing employment edged down in September (-16,000). On net, manufacturing employment has been unchanged since April. In September, job losses occurred in computer and electronic products (-6,000) and in printing and related activities (-3,000).

Certainly, Team Obama will play the 7.8% number up in the next weeks and debates, but how much will that help the actual vote?  People are still under and unemployed at an astonishing 14.7%.  “The so-called underemployment rate — which includes part- time workers who’d prefer a full-time position and people who want work but have given up looking — held at 14.7 percent.”  http://www.bloomberg.com/news/2012-10-05/u-s-jobless-rate-unexpectedly-falls-to-7-8-114-000-jobs-added.html.  Aren’t these the ones who will tend to vote for Romney?  And how much impact will any general decrease in unemployment have on them?   And how is does that constant square with the reduction in the overall rate anyhow?  Hotair asks similar and other pointed questions about the BSL statistics here:  http://hotair.com/archives/2012/10/05/jobs-report-114k-jobs-added-jobless-rate-7-8/.

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