Ed Butowsky, an internationally recognized wealth manager was on Fox this morning urging somebody to investigate exactly what happened with this month’s jobs numbers.
Butowsky said several times that the numbers didn’t add up, concluding with a statement that he requested be put on the record – there’s “not a chance in the world these numbers are accurate”.
But the unemployment rate itself is based on a separate “household survey,” which showed a whopping 873,000 new jobs in September.
“This must be an anomaly,” former Congressional Budget Office director Doug Holtz-Eakin said in a snap analysis of the numbers. “It is out of line with any of the other data..”
Holtz-Eakin noted the household survey is smaller, suggesting it is not as reliable. He called estimate of 873,000 new jobs “implausible.”
He said the report was otherwise “solid,” but reflected “the economy is merely moving sideways.”
Liberal economist Dean Baker, with the Center for Economic and Policy Research, called the September rate drop “almost certainly a statistical fluke.”
Cutting to the chase: the September surge in Seasonally Adjusted jobs given to 20-24 year old is the biggest in decades. This is on top of the only positive NSA increase in 20-24 year old jobs in history.
How does one explain this stunning discovery?
Meanwhile, Mitt Romney had this to say about the supposed ‘recovery’.
“This is not what a real recovery looks like. We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office,” Romney said in a statement. “If not for all the people who have simply dropped out of the labor force, the real unemployment rate would be closer to 11 percent.”
Anyone who calls this unbelievable anomaly into question will no doubt be called a conspiracy theorist. But the timing of a jobs report that is as believable as the land of lollipops and unicorns is certainly suspect. Others, like Rick Santelli predicted that the administration would somehow get the numbers below the magical 8% line before the election however.
Rick Santelli, the man who helped launch the Tea Party with his impassioned comments from the trading floor in 2009, sees the hand of politics at work in today’s announcement that the unemployment rate has dipped below 8%.
Speaking on CNBC’s Squawk Box this morning just minutes after the number was announced, Santelli said: “I told you they’d get it under 8%–they did!”
Watch the video…
What do you think?