When I heard the September jobs report on last night’s local news, my first thought was “Oh, how convenient for the Harris campaign.” Considering how many times over the past three-plus years jobs reports have been revised downwards, in some cases by quite a bit, I am skeptical that new jobs are suddenly well above expectations. The timing is suspicious, at least to me. I have to wonder if those wonderful September jobs numbers will be revised heavily downwards the day after the election?
If those job numbers are not artificially inflated, then I have to ask whether they were because of the actions of the Biden-Harris administration or in spite of them? Seeing the employment numbers track record of the present administration I am heavily inclined to believe it is the latter rather than the former.
The latest report states the U3 unemployment rate is ~4.1% and the U6 rate of 7.3% which includes the U3 rate (unemployed but collecting unemployment benefits) plus those who are unemployed but no longer collecting benefits and those who are underemployed (working but in jobs that pay less then their previous jobs or only working part time).
It will be interesting to see what the job numbers look like after the election on November 5th.
