John Crudele
The New York Post
11/18/2013
In the home stretch of the 2012 presidential campaign, from August to September, the unemployment rate fell sharply — raising eyebrows from Wall Street to Washington.
The decline — from 8.1 percent in August to 7.8 percent in September — might not have been all it seemed. The numbers, according to a reliable source, were manipulated.
And the Census Bureau, which does the unemployment survey, knew it.
Just two years before the presidential election, the Census Bureau had caught an employee fabricating data that went into the unemployment report, which is one of the most closely watched measures of the economy.
And a knowledgeable source says the deception went beyond that one employee — that it escalated at the time President Obama was seeking reelection in 2012 and continues today…
The article continues at The New York Post.
…Recall that the unemployment rate from August to September dropped precipitously to 7.8 percent from 8.1 percent. This raised suspicion among certain members of the business community, most notably former General Electric CEO Jack Welch.
“Unbelievable jobs numbers,” Welch said in an Oct. 5 tweet, “these Chicago guys will do anything…can’t debate so change numbers.”
He was quickly attacked by cable news pundits and branded by one group as an “unemployment-rate truther.”
However, Welch’s skepticism towards the September 2012 jobs report may not have been that farfetched…
Update: Government To Investigate Government Over Jobs Manipulation Report
As viagra cheap a result of yesterday’s report that Census was caught manipulating the September 2012 jobs report, the BLS provided the following response via CNBC:
“the incident has been reported to the Commerce Dept Inspector General Office for investigation. We no further (sic) comment.“
In other words, one part of the government – the Commerce Department – will investigate another part of the government – the BLS. We can only assume the NSA will certify the findings of the Commerce Department?
Rinse. Repeat.
And now on to the November nonfarm payrolls “report” which forms the basis for the Fed’s “(manipulated) data dependent” $85 billion monthly liquidity injection into stock markets.
