At What Point Can We Start Reading Into the Unemployment Numbers?
As Marc notes, the Obama administration’s reaction to an unemployment number that remained unchanged at 8.2% is that it is “a step in the right direction”, as opposed to a Bush era unemployment rate of 5.6% which, according to candidate Barack Obama, was “too early to celebrate”.
Further to this month’s unemployment figure, the Obama administration issued a statement several paragraphs long which included the following admonition.
[I]t is important not to read too much into any one monthly report and it is informative to consider each report in the context of other data that are becoming available
Well, that’s probably a fair statement. Except that, as someone over at the Romney campaign alertly noticed, this is the thirty first month in a row that the Obama administration has issued this disclaimer.
Over at The Blaze, Becket Adams summarizes
The White House has been telling people that they shouldn’t “read too much into” unemployment figures since November 2009! In fact, the White House has said those exact same words 30 times over the last three years.
A commenter on The Blaze postulates that TOTUS is stuck. Whatever the cause, the result is that the statement has lost some of its effectiveness and ability to reassure.