New Jobs Numbers Put Obama In Net Job Growth Territory

[trailmonkee]

Source: tpm

Revised jobs numbers released Thursday found that 386,000 more jobs were created since 2011 than the government had previously reported — a figure that means more jobs have been created than lost on balance during President Obama’s first term.

That politically sensitive threshold has been at the center of the presidential debate. While it has little economic relevance, its political significance has been substantial, with Mitt Romney’s campaign regularly reminding voters that there has been a net loss of jobs since Obama took office.

Earlier this month on MSNBC, Romney spokeswoman Andrea Saul said President Obama “hasn’t created one single net new job since he’s been president.”

The claim, though lacking some context, was true in a literal sense and served as an enticing line of attack for the Romney campaign, fueling his narrative that Obama has failed to substantially improve the economy.

But the Bureau of Labor Statistics found that it had under-counted private sector net job growth from April 2011 through March 2012 by 453,000, and over-counted new government jobs by 67,000. That’s 386,000 net new jobs created — enough to put Obama into positive net job growth territory since taking office, a time when the economy was in free fall.

Read more: http://tpmdc.talkingpointsmemo.com/2012/09/bls-job-numbers-obama-net-growth.php

[Kingofalldems]

1. K and R for all the Cave visitors

[Denise21]

2. New Legal Analysis Finds Strong Possibility of Romney Criminal Liability for Misrepresentation He Ma

September 27, 2012

Via Facsimile and First Class Mail

Jack Smith, Esq., Chief Public Integrity SectionU.S. Department of Justice950 Pennsylvania Ave., N.W.Washington, D.C. 20530Dear Mr. Smith:On behalf of the more than 7 million members of MoveOn.Org Political Action(“MoveOn”), I respectfully request that the Department of Justice initiate an investigation intowhether the Republican nominee for President, former Massachusetts Governor Mitt Romney, violated the False Statements Act, 18 U.S.C. §1001, for stating unequivocally, on his personalfinancial disclosure form filed in 2011 (SF 278), that he was “not involved in the operations of any Bain Capital entity in any way” after February 12, 1999.As explained in detail in the attached memo prepared by our counsel, there is substantialevidence that Governor Romney was in fact involved in the operations of Bain Capital entitiesafter that date. Indeed, it is undisputed that Gov. Romney was the sole director, Chief ExecutiveOfficer and President of Bain Capital, Inc. at least through the middle of 2000. The notion thathe occupied these positions with absolutely no involvement in the operations of Bain Capital Inc.is inconsistent with the requirements of applicable law and the reported facts concerning hisrelationship to Bain at that time.The purpose of requiring candidates to file a personal financial disclosure form, under theEthics in Government Act, is to ensure that the electorate is fully informed about the financialinterests and fiduciary and other positions of the candidates. For a candidate to makemisrepresentations on that form is not only a federal crime but a serious breach of the publictrust.There are significant unresolved questions about whether Governor Romney deliberatelylied on his financial disclosure form. There is a very significant public interest in having themresolved one way or the other. For this reason, we request that the Department initiate anappropriate investigation into the circumstances outlined in the enclosed memo.Thank you for your time and attention to this important matter.Sincerely yours,

[DallasNE]

5. This Is Stimulus Related Job Growth For The Most Part

And it shows that roughly 37,750 more private sector jobs were created each month than earlier reported. Now that all of the stimulus spending has run its course the job numbers this year are more puny in comparison. Some were questioning whether this shows the Fed should not embark on QE3 but it actually shows just the opposite -- the economy has weakened more than previously realized making QE3 more necessary. And also that the jobs act that the House has not voted on needs to be passed as well.