Originally Posted by Rohirrim
U.S. companies added more jobs than expected in September, while activity in the vast services sector picked up, suggesting the economy remained on track for modest growth.
The ADP National Employment Report showed private employers added 162,000 jobs in September, more than economists expected, but fewer than the 189,000 hired in August.
Separate data from the Institute for Supply Management showed that new orders helped growth in the service sector to pick up to 55.1 in September, the best pace since March, from 53.7 a month earlier.
"It looks more like things are heading in the right direction. It is this new reality - we don't have robust growth, we just have very moderate growth," said William Larkin, fixed income portfolio manager at Cabot Money Management in Salem, Massachusetts
I guess Reuters is in on the conspiracy.
And here is another one...
The U.S. unemployment rate unexpectedly fell to a near four-year low of 7.8 percent in September, the lowest since President Obama took office. Most economists were expecting a slight rise, so the number has raised suspicions that the White House might be cooking the books ahead of the election next month.
Jack Welch, the former CEO of General Electric, quickly came out with a tweet, voicing his suspicion. On his Twitter account he accused the Obama administration of manipulating U.S. employment data for political advantage.
“Unbelievable jobs numbers…these Chicago guys will do anything…can’t debate so change numbers,” said Welch, 76 and a Republican.
“No, there’s nothing at all curious about the last jobs report diving to 7.8 percent unemployment before the election,” said Keith Urbahn, Donald Rumsfeld’s former chief of staff.
(To be fair, not all GOP members felt something underhanded was going on. As former Bush White House aide Tony Fratto put it, “BLS is not manipulating data. Evidence of such would be a scandal of enormous proportions & loss of credibility.”)