Unemployment dips below 8% for the first time in 4 years!

[Dr. A ♥ O 203]

Historicaly no president has ever been re-elected with a jobless rate above 8%. So it must be good news to Obama's ears when the Unemployment rate fell to 7.8% this morning for the first time in four years!

The economy created 114,000 jobs.

WASHINGTON (AP) - The U.S. unemployment rate has fallen below 8 percent for the first time in nearly four years. The Labor Department says employers added 114,000 jobs in September, while the jobless rate fell to 7.8 percent last month as more people found work. The department also revised the numbers for July and August, saying the economy added 86,000 more jobs than first estimated. Wages rose in September and more people started looking for work.

I did get a raise last month too so I must fit somewhere in that report with wages rising in September!

Edited October 5, 2012 by Dr. A ♥ O

[Penny Lane 8,159]

This is all a conspiracy!

[kytwell 179]

It's because President Obama hired 114,000 new debate coaches

[Obama 2012 1,714]

This is all a conspiracy!

When you think about how the government calculates the unemployment rate, it really is....

[lostinblue 1,989]

The reason is that the number of part-time people employed for economic reasons soared by 582,000 to 8,613,000, the most since October 2011, and the largest one month jump since February 2009, when "restoring" confidence in the economy was all the rage... and just before the Fed announced the full blown QE1 in March of 2009.

http://www.zerohedge.com/

[lostinblue 1,989]

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...

[I AM NOT THAT GUY 5,715]

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...

A certainty. 582,000 divided by 873,000 will always = 2/3

[lostinblue 1,989]

This is all a conspiracy!

It is worth noting the the household survey saw the largest one-time increase in employment since 1983

[I AM NOT THAT GUY 5,715]

It is worth noting the the household survey saw the largest one-time increase in employment since 1983

Part time hires are way up. Major retailers are hoping for a huge jump in holiday sales over last year. Black Friday, however, will be after the election, so if they are disappointed, that news will come too late to decide the election.

[one...two...tree 2,762]

lf unemployment truly is down and not some high-level, government scheme, then Obama doesn't deserve the credit. The Repbublicans in Congress that cockblocked every attempt Obama made to extend unemployment benefits, or jobs works expenditure deserve the credit. They know how to fix the economy - DO NOTHING. The government just needs to stay the ** out of the way of private enterprise and let the machine of unbridled capitalism empty its load on the face of this country.

[Obama 2012 1,714]

lf unemployment truly is down and not some high-level, government scheme, then Obama doesn't deserve the credit. The Repbublicans in Congress that cockblocked every attempt Obama made to extend unemployment benefits, or jobs works expenditure deserve the credit. They know how to fix the economy - DO NOTHING. The government just needs to stay the ** out of the way of private enterprise and let the machine of unbridled capitalism empty its load on the face of this country.

I know you don't look beyong "talking points" and ####### like that, but if you'd actually look at the facts, you'd know that the house has sent many jobs bills to the senate, but it's the senate (Democrat majority) that keeps them from coming up from a vote and holding down the economy.

Those little facts might hurt your dear President too much though in this election if the average person knew it was his party playing the obstructionist role here.

[ready4ONE 5,400]

Way too funny!

[Mr. Big Dog 10,747]

The fix is in!

[Dr. A ♥ O 203]

I expected more responses of, "It's not good for Romney's platform so the books must be cooked," than that. I guess I'll settle for one popular post that jizzed all over the thread. LOL, Ick.

I came across this article today in The New Yorker from someone whose been covering the economy for awhile. Obama, the Job Figures, and the Conspiracy Theorists They basically explain the numbers and say that even though it's a modest indication of a moderate recovery cooked books would be unprecedented and the real job report to watch out for is the one that is released Friday November 2nd, less than a week before the election.

Edited October 5, 2012 by Dr. A ♥ O

[Bad_Daddy 2,209]

Historicaly no president has ever been re-elected with a jobless rate above 8%. So it must be good news to Obama's ears when the Unemployment rate fell to 7.8% this morning for the first time in four years!

The economy created 114,000 jobs.

I did get a raise last month too so I must fit somewhere in that report with wages rising in September!

Figure in the fact that extended unemployment benefits just ended for most folks and that those same folks don't show up as "unemployed" even though they are and that's where they get those numbers.