A Christian financial expert is reacting to Friday's
unemployment rate report out of Washington, calling the alleged
drop "deceptive" and indicative of why Americans are losing faith
in their government.
The federal government says the
unemployment rate fell sharply from 8.1 percent to 7.8 percent
last month -- the same unemployment rate as when Barack Obama took
office. According to the report, 114,000 jobs were added in
September - many of them part-time.
Last month, Dan Celia of Financial
Issues Stewardship Ministries predicted the jobless rate would
fall to 7.9 percent in the October jobs report -- which is due out
just days before the November election. But the drop reported
today, according to Celia, is not the result of a massive number of
jobs being created.
"I said it was a setup. This was more smoke and mirrors and
deception," he said Friday on American Family Radio. "And I also
said that I've lost all confidence and faith -- what little I had,
and I didn't have a lot -- in the Department of Labor
"Well, this number that we got today, going down below eight
percent leading up to the election, is confirmation of everything
that I've been saying. And I'm sad to say that because this is our
government that we're losing faith in."
Celia calls it "very interesting" that in this latest report,
the labor participation rate did not change. "[But] what did
change dramatically were the household surveys," he stated. "Now
let me tell you a little bit about the household surveys.
"[That's] something that has been going on for many, many years
-- since the 70s -- where the Bureau of Labor Statistics picks up
their dial-up phone, which I think they still have, because they
don't do real-time data and they haven't come in to the technology
of the 21st century yet, and they pick up and they make
surveys. They call numerous people, people that are on their
'list,' and they ask them: Has anybody in your household found
According to those surveys, 873,000 people reported finding a
job -- the largest number since 1983.
"Let me just tell you about 1983," Celia offered. "In 1983, we
were creating well over a million private sector jobs on average --
a million. We created 114,000 this month, with an average this year
of somewhere around 140,000."
That number - even if it were half-a-million jobs a month - is
not enough, says Celia, to maintain what he terms a "stagnant
"But somehow, in the midst of creating 114,000 jobs this month,
we see an unemployment rate go down because of the
households surveys, which is an archaic way of doing anything when
we have real-time data available - do you understand that?...."
"… What I'm saying is, you call household surveys and you have
more positive household surveys than you have had since 1983 when
we were creating over a million jobs per month? You figure it