On Friday October 5, 2012, the BLS released what was arguably the most important report of Obama's first term: the final jobs number, and unemployment rate before the November 2012 presidential election. As so many predicted, it "plunged" from 8.1% to 7.8% allowing the president to conduct countless teleprompted speeches praising the success of his economic recovery.
It also served as the basis for the infamous Jack Welch tweet: "Unbelievable jobs numbers..these Chicago guys will do anything..can't debate so change numbers" and prompted the pro-Obama media to quickly brand all those who questioned it as conspiracy theorists. The Atlantic did perhaps the most exemplary job in its task to discredit the "random anonymous cranks" who challenged the bullshit spewed by the administration's manipulative economic data reporting apparatus.
Of course, who cares if the "conspiracy theories" were substantiated by actual data. Such as the following from the same day:
An Odd Arima-X-12 Statistical Aberration?
Here's a peculiar statistical aberration:
Household Survey people employed: +873,000 (source)
Part-time jobs for economic reasons: +582,000 (source)
-> 582,000 divided by 873,000 = 0.666666666666*
Aka: precisely two thirds. Whatever are the odds... Goalseeking much Arima-X-12? Read more >>