More Fake Unemployment News - October Edition
It is that time of the month again. The unemployment numbers are out and we get to see how real they really are. As a reminder, the Government goes through their process of taking a survey as to how the employment situation is in America. Then they add in or subtract out the birth to death ratio. The birth to death ratio is the number of jobs that the Government ESTIMATED were created or lost that the survey didn't count. I want to stress the word estimated and the word Government.
The survey counted 261,000 jobs created. Of those 261,000 jobs created, 216,000 were government estimates. For President Trump's record on job creation we look good from February 2017 and up. If you go back in history for that time period, you will find that the estimated job totals are the third highest on record between February and October. The other two that are higher were during 2007 and 2008 which were the years of financial crisis which I am sure there were tons of jobs created (sarcasm).
So, how has President Trump done on jobs thus far? Total jobs created between February and October is 1,724,000. Of those reported jobs created, 1,232,000 or 71% were estimated jobs.
To be fair, it should take at least 12 months to get over the Obama hangover in this economy. I don't write this as criticism for President Trump. I am more fascinated by the efforts the government goes through to control the optics. Every chance he gets he touts his job growth record that most don't know is filled with government estimates.