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US Jobless Rate Tumbles to 7.8%

I have to say that despite his obvious loss at the debate the other night, I think Obama just got himself a second term....

FoxNews.com

The monthly jobless rate dipped below 8 percent for the first time in
nearly four years, according to new economic data that could give
President Obama a campaign-trail lifeline after a disappointing debate
performance.

The September report showed the unemployment rate falling to 7.8
percent. The number of jobs added was still a modest 114,000, and many
of them were part time -- but the president's campaign will surely use
the lower rate to boost its argument that the economy is heading in the
right direction.

"We've begun to fight our way back," Obama said in Wednesday night's debate.



The recovery has been tepid, but the president is trying to show that
it's at least improving. The Labor Department report showed the economy
created 86,000 more jobs in July and August than first estimated. Wages
rose in September and more people started looking for work.

The revisions also show employers added 146,000 jobs per month from
July through September, up from 67,000 in the previous three months.
Still, the 2012 average of 146,000 jobs per month remains lower than
last year's average of 153,000 jobs per month.

The monthly numbers are subject to change. Voters will see one final jobless report on Nov. 2, just days before the election.



The increase in September was due in part to employment growth in the health care and transportation sectors.



The unemployment rate fell from 8.1 percent in August, matching its level in January 2009, when Obama took office.



The decline could help Obama, who is coming off a disappointing debate performance against Republican challenger Mitt Romney.



Stock futures rose modestly after the report. Dow Jones industrial
average futures, up 30 points just before the report came out, were up
45 points after it was released.

The job market has been improving, sluggishly but steadily. Jobs have
been added for 24 straight months. There are now 325,000 more than when
Obama took office.

Still, many of the jobs added last month were part time. The number
of people with part-time jobs who wanted full-time work rose 7.5 percent
to 8.6 million.
Read more: http://www.foxnews.com/politics/2012/10/05/jobless-rate-falls-to-78-percent-in-september/#ixzz28Qk6tArA

 
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Added: Oct-5-2012 Occurred On: Oct-5-2012
By: strideninja
In:
Politics
Tags: Obama, 2012, Unemployment, Campaign, Election, jobless
Location: United States (load item map)
Views: 1384 | Comments: 72 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • Da number's don't add up...So cheer away at just under 8%. Good grief. When Bush had number's around 4% the media was calling IT a depression. lol

    Chicago style accounting again?

    What's that GDP?

    Watch for this to be revised up as usual.

    Posted Oct-5-2012 By 

    (8) | Report

  • How convenient. There's something fishy about this press release.

    Posted Oct-5-2012 By 

    (8) | Report

  • A couple of facts on the 'jobs' numbers:

    For every job created in September, exactly 3 people abandoned the workforce entirely.

    U-6, the closed government metric on employment, is still at 14.7%, and it hasn’t been below 14% in years.

    Finally, there's lies, damn lies, and government statistics. Consensus today in the financial world is that the Labor Department changed their methodology on how the numbers are calculated.

    Rick Santelli called it right months ago that we would see this happe More..

    Posted Oct-5-2012 By 

    (7) | Report

  • Keep fiddling with the numbers, but everyone knows they're bogus.

    Posted Oct-5-2012 By 

    (7) | Report

  • The biggest drop in job percentage in 29 years, right before elections? Something smells really fishy. Especially considering that those who came up with the details only have their Job while Obama is in office.

    Posted Oct-5-2012 By 

    (7) | Report

  • I read this story on Yahoo this morning. Looking at the comments it was clear no one is buying this B.S., they think it is outright manipulation of the numbers, and that Solis is trying to help her boss out.

    Posted Oct-5-2012 By 

    (5) | Report

    • Comment of user 'LimitedTime' has been deleted by author (after account deletion)!
  • Don't go buying your stocks just yet. The rate that counts (U-6) remained at 14.7% and has stayed high all year. This is the underemployment rate and includes people who have given up looking and those working part-time who want full time jobs. The number of part-time workers was increased to 8.6 million from 8.0 million, those that are working part-time but cannot find full time jobs. The job picture still is not rosy. The 7.8% rate just makes a good headline for Obama, but meaningless.

    Posted Oct-5-2012 By 

    (5) | Report

  • Comment of user 'H8theState' has been deleted by author (after account deletion)!
    • @H8theState Who are the people that collect the data? GOVERNMENT. Who are the people that issue the data to the media - SAME. Is there anybody verifiying their figures for accuracy - NO!

      Posted Oct-5-2012 By 

      (2) | Report

  • "We've begun to fight our way back," Obama said in Wednesday night's debate.

    So after fucking this country for almost 4 years, he has been able to get back to EXACTLY where it was before he took office and he is proud of that? What a fucking loser.

    Posted Oct-5-2012 By 

    (4) | Report

  • Well, for the ignorant and uninformed (which constitutes most of Obama's voters), this is good news. The problem is that the U6 (which the labor department admits is the "real" unemployment rate, is constant at 14.5%. Also, the number of people considered as part of the work force is at an all time low -- so if we compare the same level of employment from 2009 to 2012, the unemployment rate has increased from 8.0% to 10.6% (keeping the labor pool rate constant).

    Today's drop of 0.4% More..

    Posted Oct-5-2012 By 

    (4) | Report

  • Smoke and Mirrors...

    Posted Oct-5-2012 By 

    (3) | Report

  • You have to be kidding me. This report has been manufactured. Last month the rate was 8%. You add THE SAME NUMBER OF JOBS this month and drop the rate by .2%% Doesn't that sound remotely odd to you? MANUFACTURED!!! More lies from a very desperate administration.

    Posted Oct-5-2012 By 

    (3) | Report

  • Comment of user 'anymoose' has been deleted by author (after account deletion)!
  • SHEEP NEWS! READ ALL ABOUT IT! SHEEP NEWS! bahhhhhhhhhhhhhhh

    Posted Oct-5-2012 By 

    (3) | Report

  • The figure will be "revised" upward after the election.
    It's an old trick that seems to work every time.

    Posted Oct-5-2012 By 

    (3) | Report

  • the economy improves IN SPITE of Obama... not because of him

    Posted Oct-5-2012 By 

    (3) | Report

  • Don't get too excited. It's called holiday hiring.

    Posted Oct-5-2012 By 

    (3) | Report

    • Comment of user 'BIGLOUBRUNO' has been deleted by author (after account deletion)!
  • The numbers were cooked. The reality is we still have fewer jobs and fewer people working than we did thirty years ago. Comparing the unemployment "decline" with the unemployed who have simply left the workforce during the same period and unemployment has actually risen.

    Posted Oct-5-2012 By 

    (3) | Report

  • Comment of user 'cswartz' has been deleted by author (after account deletion)!
  • Aw BULLSHIT. There are lies, DAMN lies, and statistics. The government and media just make them up out of thin air i think. Or they manipulates the data to make it say what they want that week. Look around, do you see anybody hiring like crazy? Are you or your friends that were unemployed last month or the month before, employed NOW? I'm guessing the answer'd be NO!

    Posted Oct-5-2012 By 

    (3) | Report

  • MAYBE WE SHOULD'VE HAD A DEBATE IN HIS FIRST YEAR IN THE WHITEHOUSE. UNEMPLOYMENT WOULD BE EXTINCT BY NOW

    Posted Oct-5-2012 By 

    (2) | Report

  • Statistics and lies ... joined at the hip.

    Like politics and bull shit

    Posted Oct-5-2012 By 

    (2) | Report

  • Comment of user 'Amusing' has been deleted by author (after account deletion)!
  • "The revisions also show employers added 146,000 jobs per month from
    July through September"

    Let me educate you folks about these numbers. We "business owners" have to file a form "with the government" every time we hire someone. NOT WHEN WE FIRE SOMEONE. I personally have hired four people in the past month , and fired those same people in the past month. So according to the government I added four new employees . . . . .eehhhh WRONG

    So those new hire numbers y More..

    Posted Oct-5-2012 By 

    (2) | Report

    • Comment of user 'BIGLOUBRUNO' has been deleted by author (after account deletion)!
    • @BIGLOUBRUNO - Yep it is going to be a tough winter, for those who did not prepare.

      Posted Oct-5-2012 By 

      (1) | Report

  • more BS to feed the sheeple

    Posted Oct-5-2012 By 

    (2) | Report