US jobless rate falls to 7.8%, 44-month low
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US jobless rate falls to 7.8%, 44-month low
The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The rate fell because more people found work, a trend that could impact the presidential election.
The Labor Department says employers added 114,000 jobs in September. The economy also 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 show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months. The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office.
The decline could help Obama, who is coming off a disappointing debate against Mitt Romney.
The Labor Department says employers added 114,000 jobs in September. The economy also 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 show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months. The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office.
The decline could help Obama, who is coming off a disappointing debate against Mitt Romney.
Funny how this information comes out a month before the election.
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I doubt the news will have a large effect. Obama supporters will claim "see he did it" while Romney fans will state that it's only down to where it was when he took office and that it was pushed out right before the election to make him look good.
It is nice to hear that things are starting to turn around out there. Personally I haven't been without a job.... well..... ever. But some folks have and it must suck to have no income, so I'm glad to hear things are looking up for them.
It is nice to hear that things are starting to turn around out there. Personally I haven't been without a job.... well..... ever. But some folks have and it must suck to have no income, so I'm glad to hear things are looking up for them.
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I doubt the news will have a large effect. Obama supporters will claim "see he did it" while Romney fans will state that it's only down to where it was when he took office and that it was pushed out right before the election to make him look good.
It is nice to hear that things are starting to turn around out there. Personally I haven't been without a job.... well..... ever. But some folks have and it must suck to have no income, so I'm glad to hear things are looking up for them.
It is nice to hear that things are starting to turn around out there. Personally I haven't been without a job.... well..... ever. But some folks have and it must suck to have no income, so I'm glad to hear things are looking up for them.
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I've also come to understand that these numbers have also been modified to reflect only people collecting unemployment benefits. 
Please correct with factual data if wrong
Please correct with factual data if wrong
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If you stop counting people as unemployed when they run out of and stop collecting unemployment checks (and we do, for the official unemployment %) then when more people lose the last of their unemployment benefits and still don't have a job the % "unemployed" goes down.
This news may be right, or it may be extremely fishy timing . . . but it is not entirely good news.
This news may be right, or it may be extremely fishy timing . . . but it is not entirely good news.