Since the results of the first Presidential debate on Oct. 3 were a complete fiasco for Obama, many people in the beltway, and financial sectors, knew that something big would be dropped on the American people to try to save the election. On Oct. 5, that news was published as the newly manipulated BLS report on job creation led to a drop below 8% unemployment for the first time since 2009, and not surprisingly, during the last reportable month before the election.
Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers - Jack Welch Tweet
But what was the reason for this epic jump in Household survey jobs? Simple, and those who have read our series on America's transition to a part-time worker society know the answer. The reason is that the number of part-time people employed for economic reasons soared by 582,000 to 8,613,000, the most since October 2011, and the largest one month jump since February 2009 - Zerohedge
The Labor force participation rate rises from 30 year lows to 63.5% to 63.6%
So what we see in this months report, which will assuredly be revised by a multiple of 5-10 next month, or during the final annual report, is a last ditch attempt to brainwash Americans before the election that Obama's economic policies are working, and that people are finding jobs (that no on can really make claim to), on paper vs. the real world.
It's not about truth in the world of politics, its about the perception of truth, and as former GE CEO pointed out, its the Chicago way.