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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThere's More Good News In The Jobs Report Than You Might Realize
Josh Marshall ?@joshtpm
There's more good news in the jobs report than u may realize http://talkingpointsmemo.com/archives/2012/10/important_point_on_jobs.php
via @TPM
Around six weeks and particularly after the conventions, both campaigns started noticing that public perceptions of the economy were on the upswing. But neither campaign had a clear sense of why that was happening. The economy itself seemed either stable (in a bad place) or even trending down. Was there something going on in the economy that the hard economic data wasnt picking up? Or was the campaign itself somehow partisanizing perceptions of the economy? Or maybe did Obama and Clinton just get people really pumped up about the economy?
But new evidence suggests it may have been the former possibility. We dont just have a decent jobs report today. The BLS also revised the numbers for July and August pretty dramatically. August was revised up from 96,000 to 142,000 and July was revised up to 181,000. Those arent roaring recovery numbers but they paint a very different picture than the original numbers. This comes on the heels of a report a week ago that the BLS upward revised the jobs numbers from the first half of the year by 386,000 jobs.
Together, again, that paints a significantly different picture of where the economy has been for the last year. Politically, weve been operating on the assumption that the economy got into gear last winter and then slumped back into anemic jobs growth in the spring. But it seems like on the ground that may not actually have happened. So if we wonder why Obamas numbers have resisted the anemic jobs reality, it seems like we may have had an incorrect picture of what that reality was.
read: http://talkingpointsmemo.com/archives/2012/10/important_point_on_jobs.php
PA Democrat
(13,225 posts)I'm happy that the economy is recovering but also because it will upset Romney.
porphyrian
(18,530 posts)This is really good news
Uncle Joe
(58,405 posts)Thanks for the thread, bigtree.
dkf
(37,305 posts)And unfortunately revisions can make conspiracy theorists antennae rise.
Just look at the revision of Mitt Romney's estimated income for his taxes vs the final...it was making all the wheels spin here and even some more academic professors latched onto it also.
bigtree
(86,005 posts). . . and all of the trends have been improving steadily for over 30 months now. Comparing the BLS report with Romney's explanation (non-explanation) of his taxes is just absurd, dkf
dkf
(37,305 posts)I'd say, though, that if job growth was revised downward, they'd surely embrace those revisions. They can't be allowed to keep shifting what they believe every time they get called out or bested.