Skip to comments.US jobless rate falls to 7.8 pct., 44-month low
Posted on 10/05/2012 5:44:02 AM PDT by Oldeconomybuyer
WASHINGTON (AP) 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.
(Excerpt) Read more at news.yahoo.com ...
No. From CNBC: “The government said the total number of jobs employed surged by 873,000, the highest one-month jump in 29 years.”
Focus on the internals?
You`re talking about the American voters here. Since when do they apply critical thinking to anything? They`re going to see that 7.8 number and that`s going to seal it for them.
Of course they don’t mention that if all those who have given up were counted, the rate would be over 11%. They seem so eager to shill for this criminal administration.
By the way, don't think that the Bureaur of Labor Statistics information can't be fact-checked, especially in the age of the Internet. Close analysis of the internals could reveal a large number of people giving up on finding a job, and that information could haunt Obama to no end.
Being jobless and paying close to $5 a gallon for gas are tow things we do not need the media to tell us about.
Everyone who is unemployed knows they are whether Chris Matthews says so or not.
My cat agrees with you.
I’m thinking someone forgot to carry the nine...
Except for the fact that many of those voters are among the real unemployed percentage. Or, know folks who are. They just might believe their lying eyes over this BS.
I have been predicting for 2 years that they would get it below 8% just before the 2012 election.
That is quite a drop — from 8.1% to 7.8% considering that NEW unemployment numbers have remained over 1.4 million per MONTH.
Those numbers were massaged so much that they probably look like sausage.
I told everyone this would happen 2 months ago, last month and yesterday. This was planned. Obama has been (likely illegally) spending what theyve called left over stimulus in the swing states to juice the numbers just before the election - over $400 million in August alone. Call it Obama’s “emergency plan”. Now watch as the media explodes with enthusiasm, and promotes the new meme: Obama saved us and earned a second term. This will hurt Romney big time, with only a month to go (and there will be ANOTHER juiced number 4 days before the election too!)
Yes, there's a growing demand for burger assembly technicians these days.
Wake up, the liberal have been padding government jobs for years. It just didn’t happen these last four years.
My thoughts exactly.
“The number of persons employed part time for economic reasons (sometimes
referred to as involuntary part-time workers) rose from 8.0 million in August
to 8.6 million in September...”
Half a million new temp jobs in a month?
I doubt that...
And how the heck does it square with this??
Just as Rush predicted....
How can they get away with saying this?! So tired of this bs!
Love the posts on Yahoo after every pro Obama article or one that seeks to bash Romney. 65% or better go after the media and the Marxist in Chief.
Me too, always knew they would print an unemployment rate below 8.0% before the election, that is their magic number. Total fraud..... Just watch it magically go way back up by January and February....
These jack offs in the media are cutting their own throats...when this Country falls they will go with it. That is some great strategy right there.
Yea, but the spin is that "your neighbor" now has a job.
Q2 GDP cut to 1.3%, but somehow, people are finding work by the hundreds of thousands.
Exactly! I'm not one with knowledge enough to do such an analysis but if the info is available to the public I'm sure there are several Freepers who have that knowledge to fact check these numbers.
7.8% from 8.1% - in October? After a whole term of 8%+? After that terrible debate performance?
I expected it to go up .1% but look at the drop.
Holiday hiring perhaps?
Great, more people working means more taxes will be collected
Govt revenue will show more taxes collected, and less unemployment paid out right?
You know, I think they may have really gone too far this time.
People are already saying that this report has something wrong with it. We knew that. Very convenient for the doofus.
Wow! Those Halloween costumes must be selling like hotcakes!!!
Shovel ready jobs.
But it's not dirt they're shoveling.
REUTERS: “A survey of households from which the jobless rate is derived showed 873,000 job gains last month, the most since June 1983.”
If you had sold something on Ebay it is counted as a job.
Yeah, but I everybody knows at least a few people who are a)out of work, b) underemployed AND c) miserable in their current jobs but unable to get out. Off the top of my head I can think of a handful of people for each of those categories and that's without even trying. And I know some areas of the country have been hit much worse than the Northeastern part of the country. An unemployment rate in the sevens would be laughable if it didn't smack of Soviet style propaganda.
They ran out of unemployment benefits and dropped off the “unemployed” list.
According to The Big Zero, they are no longer unemployed and will no longer be counted as such.
The BLS receives their data from the states, plus there is a ‘secret sauce’ added to the mix. There is no exact science to this funny number.
And now you know the major story that the media will cover 24/7 until the next debate....
CNBC in full head scratching mode: Numbers appear “contradictory.”
I believe the real number is “zero unemployed”...come next election.
It is nutty out there. AP has a report from six hours ago saying the unemployment rate rose. Reuters has a report out about a half hour ago, the unemployment rate fell. Then there is this report of the rate falling. Somebody didn’t get the memo? So which report to believe. Will go with the majority of those reporting on the unemployment rate are lying. Seeing those here think the same way.
There are plenty of ways to massage the unemployment rate figure, but the above is not one of them.
It's a criminal operation in the WH.
Once again you cannot directly correlate the two. Tens of thousands of people are hired and fired every week. Those fired show up in the initial claims data. In fact the average Initial Claims number since 1967 is 363K. The key to the unemployment number is the Household Survey (not the +114K but the +873K) which is a net number (hirings - firings).
Actually, it is a method of not counting the unemployed.
It is an accounting trick, for sure, but one people no longer receive unemployment they are no longer carried on the rolls of the unemployed. . .therefore, they are no longer counted.
The job growth data is driven by the Household Survey which showed +873K jobs. The highest since 1983...
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