White House expects upward revision to jobs data

[Newsjock]

The whores on CNBC were crowing about this just now -- about how it could do damage to bad, nasty, evil Kerry. This Reuters report, however, casts the situation in less-certain terms. Regardless, however, would Our Government ever cook the books on job numbers before an election? Perish the thought, you terrorist!

http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=6418712

By Tim Ahmann

PHILADELPHIA, Oct 5 (Reuters) - The Bush administration expects revised data due on Friday to show the pace of job creation in the year leading up to March was much swifter than had been believed, economists who received a White House memo on the subject said on Tuesday.

The memo by the president's Council of Economic Advisers estimates that payroll figures for the March 2003-March 2004 period will be revised upward by 288,000 jobs, the economists said. Current data shows only 709,000 jobs were created in that period.

A sizable upward revision would be good news for President George W. Bush, who is locked in a tight race for re-election with Democrat Sen. John Kerry.

... While many economists expect to see some upward revision, many are not as optimistic as the White House economists.

"It may be that this memo overstates the case," a congressional aide said.

more

[displacedtexan]

1. Hm... but will unemployed voters believe them? (eom)

[demnan]

2. Anderson accounting practices

n/t

[MidwestTransplant]

3. Pre Spin. They know bad news is coming Friday

U.S. Job Cuts at 8-Month High in Sept

http://news.moneycentral.msn.com/breaking/breakingnewsarticle.asp?feed=OBR&Date=20041005&ID=4009325

[takumi]

4. Anything's Possible When the FOX is Guarding the Henhouse (Pun Intended)!

[UpInArms]

5. WH Economist Mankiw trying to get in front of this "memo"

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=884805&mesg_id=885321&page=

12:16pm 10/05/04 MANKIW: HURRICANES HAVE CUT MONTHLY EMPLOYMENT IN PAST

12:15pm 10/05/04 MANKIW SAYS HURRICANES LIKELY TO IMPACT OCT. JOB DATA

12:14pm 10/05/04 WHITE HOUSE'S MANKIW : JOB MEMO WAS 'INTERNAL GUESS'

12:14pm 10/05/04 WHITE HOUSE'S MANKIW : JOB MEMO WAS 'INTERNAL GUESS'

[fob]

6. Why not revise it by a billion jobs? Here, I'll supply them with the data

necessary.

The FOB report has found that an additional 1 billion jobs were created between March 03 and March 04 that had previously been missed. That's right, billion with a "b". The unemployment rate is actually -685%!! bush*s magnificent policies defy logic, common sense and categorizing, which is why all those egghead ecommunists missed the billion jobs in the first place. For example the typical parent has upwards of 250 jobs! Like taxi driver, coach, cook, cleaner, commodities buyer (grocery shopping), etc. and all those have been severely underreported for years, or at least since January 2001.


That's at least as credible as their bush*it.

[geek tragedy]

7. Just in time for the debate.

How convenient.

[troublemaker]

8. Clever

They are pointing people's eyes to the backward-looking revisions (which probably will be upward) and de-emphasising the most current headline numbers.

Wall street expects about 150,000 jobs in the Friday report. Roughly 200,000 jobs/month are required just to meet population increase.

[Career Prole]

9. "It may be that this memo overstates the case"

Christ, nothing new there, eh?
What's one more overstated case among friends?

[PROGRESSIVE1]

10. Tell that to the mid-west first of all.

Second, the WH will cook the books and third CNBC should be SHUT DOWN!!!

[dennis4868]

11. Why would the WH....

overstate the case in a memo like that when the numbers are due out Friday? The WH will look foolish if the numbers are not good. Perhaps the WH already has the job numbers for September and so they can come out with this memo? The Labor Dept. and Bush would like nothing more than to have real good job numbers just in time for the debate on Friday night.

[Supersedeas]

12. Controlling the 'data' and announcing achievements

[JCMach1]

13. why revise up...? it equals (almost) 1 million

this is absolute campaign advertising and NOT reality...

:grr:

[pelagius]

14. No bump for * with this...

...because people will look to their own lives and see that, yes, some folks are getting back to work, but the jobs are paying less than the ones they've lost. It's difficult to fool people who are living the reality with statistics.

(Edited for spelling.)

[joeprogressive]

15. Cheney's unemployment figures:

If you sold anything on ebay throughout the year, you were employed.

[lancdem]

16. How convenient

Adding 288,000 to 709,000 adds up to ..... almost 1 million! That sound a lot better than, say, 900,000, doesn't it?

[barb162]

17. lots more layoffs are expected by Challenger Gray & Christmas

see article on CNN Money's website

White House expects more jobs optimism every month for the last 4 years; they promised 300,000+ jobs would be created every month because of the tax cuts. Right

[fishface]

18. Don't like the air quality report at ground zero?

hold on while we change it.

Don't like the cost of my Medicare scam?

Hold on while we change it.

(I see a pattern here)