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The BLS reported last Friday that the economy in September created all of 114,000 net new jobs, just 104,000 in the private sector. To give you some context for how great that is, the working age population increased by 206,000 in September. With a labor force participation rate normal for the fourth year of a recovery (where we are right now), just keeping pace with that population growth would require 138,000 new jobs, before we can even start to reduce the unemployment rate.
Indeed, since Obama became President, the working age population has increased by 8.4 million. At the same labor force participation rate as when Obama entered office, that would require 5.52 million new jobs just to keep pace with that population growth. The total number of net new jobs created since Obama became President according to the BLS: 787,000.
But not to worry. The BLS also reported on Friday that the number of full time jobs actually declined last month by 216,000. Thank you, President Obama. You are doing a great job. Socialism is finally working. Forward. Why would we ever consider turning back now?
Time to Investigate the Bureau of Labor Statistics
The supposed sudden explosion of Household Survey jobs is inconsistent not only with the 114,000 jobs found in the Establishment Survey of employers. It is also inconsistent with the reported GDP growth of 1.3% in the second quarter, which has been declining for over two years. Monthly job creation of 873,000 would require economic growth 3 to 4 times that large, at least.
I am not alleging fraud or manipulation by the career bureaucrats at the BLS, who I know from personal experience with career federal officials are overwhelmingly Democrat and personally supporting Obama for reelection. I also know from personal experience with the Washington, D.C. area that these career Washington bureaucrats are personally doing better than ever.
But given the above inconsistencies and anomalies, along with the strange, fortuitous timing of the sudden September burst in supposed jobs, I just think it is time to ask some pointed questions, under oath, in an official investigation. That includes the Obama appointees to which the career bureaucrats report, as well as the bureaucrats themselves.
"Over the last 30 months, we've seen 5 million jobs in the private sector created," Democratic incumbent Barack Obama said.
Fact Check: Job creation versus unemployment