LETTER: Labor statistics are interesting
I find it very interesting that on Sept. 27, the U.S. Department of Labor, announced that the economy had created an additional 386,000 jobs between April 2011 and March 2012.
Plainly stated, their estimates somehow missed counting an average of about 33,000 jobs created each month during that period. That magnitude of error would get you fired in the private sector.
I find it rather curious that this announcement is made with less than 40 days until the presidential election. Either the data is six months old or the Department of Labor runs at a snailís pace.
So now the White House can claim a net gain of 100,000 jobs created under Obama. I bet the president gave Hilda Solice a big hug after she announced those numbers.
Obviously, to further correct the error in the estimates, we will have to add those missing jobs created back into the September unemployment numbers and guess what happens. The unemployment rate will drop below 8 percent with just about 30 days until the election.