November 19, 2013
On Friday October 5, 2012, the BLS released what was arguably the most important report of Obama’s first term: the final jobs number, and unemployment rate before the November 2012 presidential election.
The unemployment rate plunged to 7.8 percent in September, its lowest level since Barack Obama took office in 2009. In addition, the Bureau of Labor Statistics made big revisions to data from previous months, showing huge increases in the number of jobs being created over the last three months. Total employment from the “household survey” also showed an increase of 873,000 jobs last month, the biggest one-month jump since June of 1983.
This report looks so good for President Obama that conspiracy theorists are already alleging that the fix is in. And not just random anonymous cranks, but supposedly serious business people, like former General Electric CEO Jack Welch.
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