The Unemployment
Rate was brought down by a surge in Government hiring, Obamacare-induced jobs growth in health care, and continued part time downsizing which reflects in the report as continued employment, but fails to reflect the significant reductions in incomes for American families-
Forced Part Time Employment jumps 600K to 8.6 million- This is what the real headline of the jobs report released this past Thursday by the BLS should read. While the overall unemployment numbers are down, from 8.1 percent to 7.8 percent, the number of people forced to work part time due to economic downsizing or not being able to find a full-time job jumped a whopping 7.5.
Other telling statistics from the Jobs Report -
Government Padding-
55% of the 114K jobs created were from the government sector. This contrasted with the rising deficits at the Federal, State, and Local levels paints for a picture of looming economic uncertainty for those recently hired by the governments that are failing to pay their existing bills.
Health care Jobs boost numbers-
The report shows that 38.5% of the jobs created from July to September were in the Health care sector.
If you combine the growth in the health care sector, mostly precipitated by the layers of administration created by the emerging Obamacare law, and government-created jobs, the bulk of this job growth overwhelmingly comes directly or indirectly from government, 93.5%.
While government jobs are increasing and Obamacare jobs are increasing, the real backbone of the American economy, manufacturing, showed a loss of 16K jobs.