The Labor Department said that it hopes to come out with October?s unemployment report on Friday despite the closure of the federal government on Monday and possibly more days this week due to Hurricane Sandy. According to Department of Labor spokesman Carl Fillichio, the workers at the Bureau of Labor Statistics are working hard to make sure that the employment data would be released on time on Friday. He maintained that it was the Labor Department?s intention to be business as usual with regards to the October Employment Situation report.
The report scheduled to be released on Friday will contain the unemployment rate as well as the number of new jobs added in October. It would be the last major economic report to be released before the presidential election.
If the release of the jobs report is delayed, it would spark conspiracy theories that the Obama administration was trying to withhold negative information that might affect the outcome of the presidential election. Senator Charles Grassley, Republican from Iowa, said that a delay would be possible if the numbers are not favorable to President Obama.
The average estimate of economists polled by Bloomberg is 125,000 new jobs generated in October. This is up from 114,000 in September. The unemployment rate is estimated to go up to 7.9 percent. The September jobs report that was released October 5 showed the unemployment rate dropped to 7.8 percent from 8.1 percent the previous month. It was the lowest level since President Obama took office.
Because of the surprising drop in the September unemployment rate, Former General Electric Chief Executive Jack Welch accused White house of messing with the numbers. Labor Secretary Hilda Solis said that the numbers were not manipulation by the Obama administration. Keith Hall, former commissioner of the Bureau of Labor Statistics from 2008 to 2012, said that it was impossible to manipulate the data without being detected.
Source: http://www.paydayloansmag.com/labor-department-hopes-to-release-jobs-report-without-delay/
bryce harper may day dan savage new world trade center kellen moore octomom stoudemire
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