Unemployment Falls to 7.8%

Good news for jobseekers, and for Obama

This jobless rate has fallen to its lowest since January 2009, and below 8% for the first time since the recession began. The September unemployment rate is 7.8%, according to the official Labor Dept. report.

Employers added non-farm 114,000 jobs in September, up from 96,000 reportedly added in August. One downside: "many of the jobs added last month were part time," the AP reports.

As we've reminded you before, no incumbent US president since FDR has won re-election with unemployment at 8% or higher. And for the past few months, it's been highly doubtful that the rate would dip below 8% this year. This news could help Obama as much because of the optics as the underlying economic reality.

Via the AP.

Posted Oct 5, 5.45am PST.

Are we seeing a genuine economic recovery?

[Mercury34]

Well,I guess Obama is doing something right.

[Thunderchicken]

Or he's cooked the books.

[Tralee]

More likely the books are slightly cooked. Go to the BLS website and you will see that it's a bit of smoke and mirrors.

[AceLuby]

@Thunderchicken He has no control of the books, how can he 'cook' them?

[Yatasaurus]

@AceLuby The figures released come from the Labor Dept.

[Thunderchicken]

@AceLuby

As Tralee said, these numbers are often revised and the revision rarely makes the news. I don't trust this administration to shoot straight with the electorate.

[Lorth]

There's something like 200,000 truck driving positions open and over a million jobs seeking people nationwide - the problem isn't jobs - its a lack of qualified people willing to fill them.

[Thunderchicken]

In the "Cool jobs" thread it mentioned 600,000 manufacturing jobs open. Both this and your figure surprise me. It makes me wonder if times aren't so tough after all.

[PuroChorizo361]

It's that ppl have a hard time getting the finger out of you know where to try and become a doctor,nurse,lawyer in 3 months by those get a degree in weeks seen on tv. Nobody wants to put that pride away these days.

[TeamAmerica]

I just read an article yesterday that said job centers in NY help people get public assistance rather than helping them find a job. Why work when you can sit home and play video games while snorting Xanax?

[NormalFlora]

Lorth you are absolutely right. What's even more sad is how many manufacturing jobs go unfilled because the applicants can't pass a simple entrance exam requiring them to convert measurements or to calculate how many 5.5 inch pieces can be cut from a 7 foot steel rod assuming a 1/16 inch cut width.

[DARSB]

Quite a fall from that 10% a few years back.

[Thunderchicken]

Too convenient I think. (Damn I've become cynical.)

[DARSB]

@Thunderchicken "Cynical" is much better than "paranoid" - and more fun, too.

[Tralee]

LOL - Is anyone really surprised by this? The numbers don't add up, but it was predicted ages ago that miraculously the unemployment number would fall well below 8% just before the election. Logically, the number makes no sense. We added a whopping 114,000 jobs, when 350,000 or more typically needed to lower unemployment. In August some 500,000 or so just left the workforce lowering the number to 8.1%. This is why the numbers just don't make sense. The numbers, 800,000 people finding work vs only 114,000 jobs being created don't jibe until you go to the BLS and find that of that 800,000 who found work, 600,000 or more found part-time jobs. I have a sneaky feeling that these numbers will be quietly revised up and the general public will never hear of it.

[Thunderchicken]

I have a sneaky feeling that these numbers will be quietly revised up and the general public will never hear of it.

It wouldn't be the first time.

[David944]

An article I read says 453,000 age 16 to 24 less people with jobs in august than july. http://money.cnn.com/2012/09/07/news/economy/... A lost generation.

[Tralee]

I looked it up and the U6 unemployment rate remained steady at 14.7%, strangely it didn't go down at all.

[Bambi]

I've been hearing that this number isn't really correct. If you take the unemployed that have stopped looking the count would be at least 11%. Those people aren't factored in on the monthly employment list.

[CanisCanemEdit]

So Obama has a poor showing at the debate....and SUDDENLy the jobs reports from June forward are "adjusted" to show better job growth?

I smell bullshit.

[Just_Lisa]

Well people, isn't that just simply amazing. Nice try oblama.

ROMNEY/RYAN WILL GET MY VOTE!

[DerivePI]

Good News - Monthly employment increased by114,000 positions in September.---
Bad News - The average monthly rate for 2012 is 146,000 positions (we aren't doing as well as the rest of the year)---
Worse News - The average monthly rate for 2011 was 153,000 positions (we aren't even doing as well as we did last year)---
Terrible News - The median family income, when adjusted for consumer price index, continues to plunge.

[Pack7]

I do not believe this for one second. Isn't it ironic that after Obama gets stomped in a debate and his flawed policies are exposed, that the unemployment rate suddenly falls below 8% only a month before election time? Even a third grade economics student would be able to figure this one out. The Dems are desperate and are pulling out all stops and lying and manipulating doesn't bother Obama and his minions one bit. What a disgrace.

[Mercury34]

How do you know it's not just a coincidence that the unemployment fell after Obama did a terrible job in the debates?

[Pack7]

@Mercury34
Just look at all the other lies this fool has told and how they lied about Libya and Egypt and everything else. This regime is nothing but liars. You should be able to figure this out just by knowing who and what this regime is made of.

[Mercury34]

@Pack7 What does this have to do with the unemployment rate going down?

[Pack7]

@Mercury34
If you believe that these figures are not manipulated, knock yourself out brother.

[DerivePI]

@Pack7 - You have to actually look at the numbers. They aren't good. We don't like it when the liberals refuse to face the evidence, lets not do it ourselves. If you can show us how the numbers are manipulated, then give us the same evidence as you see. Thanks

[tomincali]

messing with the #'s ? or if these jobs are not citizens what good are they.

[MarkJM]

It may sound all good and well, but how many have simply dropped out of the workforce? How many accounted for only part time employment? I have always said the Dept. of Labor rate is a cooked one. Factor in those who dropped from the workforce and that number is more like 12%

[Realthinker]

It's a lie, of course. Who didn't see this coming? Remember just yesterday we were told that the unemployment rate was now 8.2% because new jobless claims rose the previous week? Were those figures not for the last week of September? Remember we have been told new orders for durable goods have fallen by 13%? They can't have it both ways.
The truth was out just yesterday. How quickly people forget.

[TeamAmerica]

This is similar to the way EPA estimates for fuel economy went up for GM vehicles after the government stepped in. Problem is owners never got anywhere near the new ratings. Funny how that worked.

[RAWalker]

Must be some growth in MANUFACTURING, because these numbers clearly were. 32 days before the election and less than 48 after the Obysmal-debate performance. Coincidence? I think not.

http://m.facebook.com/JesseVenturaPresident20...

[mimi57]

WOW, it dropped right before the election...I can't believe it!!! Gimme
a break.

[Just_Lisa]

It's unbelievable what this iD 10 T
Thinks the public will swallow!!

[mimi57]

@Just_Lisa I think it has to do with the fact that they swallowed it before...now he wants us to chug it! Crazy..

[Suff]

Realistic Unemployment is 24%.. This is just campaign propaganda..

[NO-BAMA]

This was predicted. The Bamster gets spanked at the debate concerning the economy and now, the unemployment number comes down????? Where are these jobs? What industry? Or is it more "fixing of the numbers" so when the layoff notices go out,(suppose to according to federal law anyways) before the election for 300,000-400,000 the unemployment number wont be 8.5 or higher?
The Bamster will lie and fraudulently say/do anything to keep the free plane and the nice house wont he? I guess there are more American citizens he wants killed due to his policies, and more terrorists he wants to bring to the white house.
Way to go liberals!!!!!!

[ibcingu]

I find it so interesting that the GOP denies & says the Labor Dept figures are "fudged & lies" when they're released under Obama's presidency, but accepts them when released under a GOP presidency. Not surprised, though, since most of what they say & do is "talk" out of both sides of their mouths.

[ACTSmom]

Wait for the adjusted figures...and how many are no longer looking for work. What a crock of stats...unemployment has always been higher than reported.

[Blknred]

I'd say about 10% higher.

[ACTSmom]

@Blknred ... I think it's more like 30 - 40% higher.

[Blknred]

@ACTSmom probably so.

[Jeff_Woehrle]

Far more people had a job when George Bush was in the White House. People have been out of work so long that they've quit looking for work. What a shame.

[bsking]

no we're seeing rush Limbaugh make yet again another prediction come true he predicted almost the exact number and time that this would come out before the election. I guess that's why he's rush Limbaugh and Obama is a liar