Friday, October 05, 2012

Manufacturing Loses Another 16,000 Jobs While Unemployment Rate Magically Drops To 7.9%

From the Household Survey used to calculate the unemployment rate - “Total employment rose by 873,000 in September, following 3 months of little change.”   (That was the highest jump in nearly 30 years according to MarketWatch.  I dunno since I don’t really pay attention to employment figures.  Employment is a lagging indicator that is essentially useless.  Well, other than to get an idea of how many people have been thrown under the bus.) 

At this rate, the economy will be turning away jobs by the November elections.   Ahem.  Actually, if you scroll down you see that part-time workers at Wally World and Taco Hell increased by nearly 600,000.   So the numbers reasonably jive.  

Would you like hot or mild sauce with your bean burrito?

posted by TimingLogic at 9:28 AM