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U.S. unemployment levels hit 7.8 percent

WASHINGTON, D.C. -- 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.

Comments

Nous_Defions 1 year, 6 months ago

I call BS on this, this is .gov propaganda intended to influence the elections. How can this be when US manufacturing output dropped 3+% in one month? Yes, I know the Service Sector increased, Service Sector is mainly retail sales, equating adding a fry cook making $ 8.00 per hour and to a skilled manufacturing employee making $ 20.00 per hour just doesn't make sense. Swap them and we've lost $ 12.00 per man hour from the economy.

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VSU 1 year, 6 months ago

My thoughts exactly. Come November the numbers will be down to 6.3 percent. Then should Romney get elected and the true numbers are displayed they can blame Romney for that.

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Shinedownfan 1 year, 6 months ago

Of course it is!!! It's a month before an election. Next month, after the election, the number will be "revised" back to over 8%.

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Fletch 1 year, 6 months ago

..... See what happens when you botch the first presidential debate of the season? ... You get to lower the unemployemnt rate as compensation for getting your clock cleaned in front of 65+ million viewers!!! ....

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ObjectiveEyes 1 year, 6 months ago

The math simply does not work. A .03% drop would require that unemployment dropped by 456,000. BLS indicates that 114,000 jobs were created. What happened to the other 342,000? Did they retire? Did they die? Even at face value, it does not equate that unemployment went down last month by the most in 29 YEARS?

Also, buried in the report is the fact that the number of people with part-time jobs wanting full-time rose 7.5% to 8.6 million! And that the government added 63,000 jobs in July/August.

"BS" doesn't begin to explain it...

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Sister_Ruby 1 year, 6 months ago

When you add in that 367,000 NEW UNEMPLOYMENT CLAIMS were filed JUST LAST WEEK...........then you really find yourself in a conundrum.

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ObjectiveEyes 1 year, 6 months ago

This brings a whole 'nuther meaning to the term, "numbers create reality."

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Cartman 1 year, 6 months ago

I only hope this bogus report is exposed before November. It also obviously doesn't count those poor souls who have fallen off the grid.

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A_Johnson_Darton 1 year, 6 months ago

While there are indications that the unemployment rate fell due to a number of part-time workers being hired, there was no change in the U-6 unemployment rate which counts part-time workers as being unemployed. Plus, the employment to population ratio fell. Overall, this tells me the job market has improved, but we still have a long way to go before we return back to normal.

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A_Johnson_Darton 1 year, 6 months ago

I meant to say that the employment to population ratio increased from 58.3 to 58.7, so that's another indication of improvement.

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A_Johnson_Darton 1 year, 6 months ago

One other factor causing the unemployment rate to fall was that the BLS underestimated the actual growth rate of jobs the previous two months.

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Kay523 1 year, 6 months ago

The GOP killed the Veterans Job Act, the Jobs in America Act and the Farm Bill. The Ship Of State has had 41 straight months of job growth despite the GOP continually dropping anchor on our economy. It doesn't matter if Obama or Romney win the Tea Party is strangling the whole country.

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coachjohnson42 1 year, 6 months ago

What kind of American is thrilled that the economy is doing poorly and unemployment is high? ------today's right winged REPUBLICANS!!! How sick can you be to want the economy to fail just to score some political points? If you feel that way, then you are just as bad as a trader.....

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mti5775 1 year, 6 months ago

Noone wants the economy to do poorly or unemplyment to be high. The so-called "right wing republicans" just want the truth and not more liberal retoric. You could ask yourself the same question about political points, should you lie to the American people just to score some more political points? Hasn't this administration basically lied about everything? Libya? Stimilus? Fast and furious? Islamic Brotherhood? Need I go on there Coach? As far as the trader comment, are you talking about a Wall Street trader or did you mean traitor? Like this administration is walking a fine line with.

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coachjohnson42 1 year, 6 months ago

Repubs who pull for this country to fail should be kicked out of this country and sent to Iraq with the rest of the people who hate America....If you dont like it here......GET OUT!!!

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