The unemployment rate dropped to a near four-year low of 7.8 percent in September, a potential boost to President Barack Obama’s re-election bid.
The Labor Department said on Friday the unemployment rate, a key focus in the race for the White House, dropped by 0.3 percentage point to its lowest point since January 2009.
A survey of households from which the jobless rate is derived showed 873,000 job gains last month, the most since June 1983. The drop in unemployment came even as Americans come back into the labor force to resume the hunt for work. The workforce had shrank in the prior two months.
The household survey is volatile. A survey of business establishments showed employers added 114,000 jobs to their payrolls last month, a touch above economists’ expectations for 113,000 jobs. Employment for July and August was revised to show 86,000 more jobs created than previous reported…
The central bank, which also pledged to keep overnight lending rates near zero until at least mid-2015, hopes the purchases drive down long-term borrowing costs and spur the recovery.
The Fed’s ultra-easy stance has started to free up credit, giving a lift to consumers, economists said. That, in turn, helped lift retail hiring in September…
There will be lots of details, today – even more discussion of the details. The Party-formerly-known-as-Republican will have to decide which of several rationales will suit their party line: federal statistics wrong, ADP numbers from earlier in the week must be wrong, the sky is falling?
Good news for working people always seems to upset rightwing pundits and politicians.
“The Party-formerly-known-as-Republican” /// Nice phrase. Figures a party made up of low information voters who prefer to hang labels on people and issues would cling to the Label of Republican even as that party goes off the deep end.
Years ago, conservatives who did not relate well to much of the then Republican Party separated themselves by calling themeselves “Neo-Cons.” And we have the TeaBaggers. And we used to have the Moral Majority. And while all these and more were active in the Big Tent of Puke Treachery, we also had Moderate Republicans who got the work of America done. This last faction of the Old Republican Party has been purged.
Why still call it the Republican Party?
FruitLoops?
Cuckoo For Billionaires?
Lots of other more descriptive terms come immediately to mind. BUT–all you luddites still calling yourself Republicans should think through just how true that still is?
Or not. Thinking is hard.
Not surprised to see you talking about unrelated crap when the unemployment numbers are so bizarre and the details are so depressing. According to CNNMoney, “The biggest gains came in the form of 582,000 new part-time jobs.” This quantity accounts for more than the 0.3% change, so we probably lost thousands of full time jobs.
How stupid do you have to be to think adding a crapload of part time holiday workers and burger-flipping workers is good economic news?
Thats a fair comment. But I am responding to the OP on an issue that should be of constant issue to all: words. What they mean, how they are manipulated. Words/Rhetoric having nothing to do with the substance they seemingly address.
I find nothing more intereting as it is the form and too often the substance of everything that is said/know of a subject.
Your example is a good one: What is a job?
HYPO: Imagine a society in growth mode, leading the world in manufacturing and all the good things in life. Now, for whatever reason, that society is no longer Number One and there is a mismatch between the number of citizens/workers and the number of jobs available. Should all the rules and expectations of that society stay the same, or should adjustments be made based on a rational analysis of the actual job market facing that society?
Why do you think what you do and how do you change your mind?
Didn’t take Dvorak Uncensored very long to post the unemployment news did it?
So Obama spikes the football. He killed Osama bin Laden and after 40+ months he breaks the 8% unemployment barrier
What more could anyone want?
How about some transparency. The job gain was a paltry 114,00 jobs and included a conveniently scheduled mid-year adjustment.
I have to agree. This is just a reshuffling of numbers to make Obama look better. It’s not that I’m unhappy, but anyone paying attention to the numbers, somewhat, knows this morning’s take is not wholly true.
Wow. That’s a lot of new minimum wage positions available. Bravo.
came here to post almost the exact same thing.
Here is some additional info for the blindfolded Dvorak Uncensored crack reporters.
“Many of the jobs added last month were part time.”
The number of people with part-time jobs (who wanted full-time work) rose 7.5 percent to 8.6 million.
Obama needs to send a special thank you to all those new McDonald’s employees.
Yay! More chicken head McNuggets for all!
Oh, and the pink slime industry will be doing just fine.
There’s nothing wrong with pink slime. It’s beef, and the media just went on a pointless uninformed jihad against it.
There’s nothing wrong with pink slime.
Well, you’re eating it for dinner.
Reminds me of guys who think anything is great!
The federal government now employs 2.8M people. 2.8MILLION.
Nobody else see a fucking problem with that????
BTW, anything coming out of Obama’s or Romney’s pie holes will be pure and complete bullshit in the final month to the election. Keep believing your two-party system, idiots.
:applause: ….but it’s not a two-party system. It’s a one-party system controlled by corporate special interest. I for one cannot wait until the baby boomer entitlements kick in and the college debt bubble bursts.
What the fuck’s is your problem?
The alternative is for them to starve to death, which they aren’t going to do quietly, if you know what I mean.
How secure is your job?
Wrong… It could be shipped off to some third world office drone tomorrow (and that applies to everybody but the janitor.)
Today’s jobs report reveals the results of two surveys, one of households, one of establishments.
The professional economists and the press usually emphasize the establishment survey because it is viewed as less volatile. The establishment survey was terrible. The 114,000 number of jobs created in September is well below the average for this year (146,000) and the average for last year (153,000). This is wholly consistent with the story that the economy is decelerating sharply as we head into the fall.
But, back when President Bush presided over a jobless recovery, the household survey tended to show better news. Therefore, every media organization carefully emphasized the establishment numbers, and warned that the household numbers are suspect. That, of course, is what happens when a Republican is in office.
For President Obama, you can expect a household survey lovefest. The AP story emphasized the household survey, even adding, “The decline could help Obama, who is coming off a disappointing debate against Mitt Romney.”
Get ready for more of the same media bias.
uhm i dont know about these figures..
businesses here are still closing…. and barry will be in town today.. 😛
Yea, the jobs gain doesn’t match the drop in unemployment rate. Unlike in previous months it can’t be explained by people giving up looking for work. It appears that they are just switching to a focus on the household survey, which probably the better indicator, but less reliable to use on a monthly basis.
Don’t knock part time jobs. Those are jobs too. And when you pass new regulations on full time workers, employers are going to be looking to hire more part time.
The Labor Department is working for the Obama campaign, as can be seen by their letters to defense contractors not to issue the notice of layoffs as required by law.They are even offering to have the taxpayers pay their legal fees and any judgments against them if they do this favor to the Obama campaign. The purpose of the law is so that workers have adequate notice of job losses, and the Obama Administration even tried to have the time period extended from 60 days to 90 days a few years ago. Now they want no notices given until after the election.
U6 numbers (the real unemployment numbers) for Sept are 14.7%. Same as in Aug. Only a slight improvement from July’s 15%. I could have predicted that after Obama poor performance in the debate, the jobs report would be spun to try to salvage Obama’s image. I see nothing that ties any job creation to anything done by the Administration. Now we’re heading into the Fall shopping season, retailers are desperate for sales, they will hire part-timers regardless of anything the government does or has done.
When I look at this later, the thing I am looking at will be the seasonal component.
If some seasonal hiring occurs earlier than that would drop the rate initially and raise the rate later.
Living in a liberal cocoon is what got Obama in trouble at the first debate.
Then again, this data may have cemented Obama’s reelection. Just hammer on this in the remaining debates. Already, the return on his reelection is down to 40%. Still a good return in 30 days at InTrade.com but you had 50% yesterday.
misrepresenting establishment statistics with household numbers, who put Al Gore on the campaign staff?
That’s 2260 jobs per state… that’s very sad.
If you are working part time and making a quarter of what you used to make, you’re employed. If you quit looking for a job and unemployment ran out, you’re invisible.
How many are required in Montana or Wyoming?
Don’t just divide, pro rate.
odd how this story, this claim, arrives just a couple of days after Obammy had hi a$$ handed to him in the debate. gee i wonder if there might be some motive for this story now?
We’ll be putting on our Christmas pageant early this year. Mitt Romney will be donning his Santa Claus suit and handing out tax cuts to all the truly good boys and girls, but unlike in the Bush era there will be absolutely no increase in the deficit. Unfortunately, he’ll be taking away all of the fancy calculators you got as stocking stuffers last Christmas because arithmetic gets in the way of his holiday magic.
Just close your eyes and say, “I believe!”
Who knew Mitt Romney was Walter Mondale?
They are both from states that voted for the Democrat while the other states voted for the Republican.
When I heard this news I said to myself, “Obamabot Eitard to post to DU in 5..4..3..”
For more info on Obama’s employment numbers, check out the McJobs Recovery chart.
You want fries with that?
http://washingtonexaminer.com/article/2509960#.UG87LlHbt7B
Exclamation mark in the headline and accompanied by Handel’s Messiah.
40%+ return in 30 days at InTrade, just pick Obama to win.
God wants the negro to win as there is no other reasonable explanation for the sudden drop in joblessness.
Why are Teapublicans against God’s wishes?
In other news, hell froze over and pigs have learned how to fly.
Complete BS – can you say the books were cooked. Sometime after the election there will be revisions to that number released which show Joblessness stayed flat or increased.
How to speak out your ass: don’t like something?==just deny it.
total Republican Package:
LIE, CHEAT, AND STEAL.
Silly Hooman.
Coincidentally, just in time for election, surprised they didn’t claim zero percent.
Not surprised Ben didn’t print even more money for the election though, as he dumped pretty much the maximum possible.
There must be a limit though on people dumb enough to believe this, surely some will vote based on the reality they see each day?
Maybe not, seem the fashion trend is against R-Money, this season Ellen and Oprah are prescribing the poorer O-NoMoney.
Poor is in! Poor is the new…
Ben and the president are too far apart to be mentioned one after the other. There are many levels (strings) between the two puppets. I know I sound crazy. Maybe my imagination is just bored.
Bush had a larger increase in jobs in his reelection year, and the unemployment rate only dropped .1%, despite a smaller population.
The factcheckers are rigged, the polls are rigged, the employment numbers are rigged, and the media is rigged. Clearly the voting machines are rigged too, and Obama will cruise to reelection.
I did’t read the article… as soon as i saw the abrupt raise coincide with an Obama debate loss, I call BS on the numbers!
We got 114,000 new jobs in September. That’s about the same number as the number of people that entered the work force.
If you know how the number of unemployed can go down significantly, from 8.2 to 7.8 if my memory serves me, without a lot more jobs than this feel free to share your insights other wise the modern fifth grade with a calculator is supposed to be able to figure out something about these claims does not compute.
The number of working age people who aren’t in the work force hasn’t changed unless I missed it and is still way high.
In any event I was watching a show that did a survey and they got 2% accepting the numbers given as being trustworthy.
You know what else is not trustworthy?
Any Puke doing Math.
………..ZING!!!………..
Worthless Dolts.
This article explains the problem with the conflicting numbers claims for those dealing with reality.
http://newsbusters.org/blogs/noel-sheppard/2012/10/05/number-employed-people-rises-873000-september-highest-december-2008
I did read bobbo’s last post and he obviously doesn’t want to be accused of dealing with reality so maybe he should give it a pass.
Good news for working people always seems to upset rightwing pundits and politicians.
The only “good news” (if you’re an Obama brown noser) is that those people are off the governments unemployment assistance – a.k.a. “welfare” – and therefore they must have found work. It’s not like they aren’t receiving assistance somewhere else or might actually be living in the streets or anything. (Funny how liberals are always so terrible with mathematical statistics being so “enlightened” and all.)
These numbers don’t necessarily mean there are new jobs for anyone other than low wage-earners such as students still living at home. But let’s assume for the sake of argument that these new jobs are a good thing for real people with real financial responsibilities. Has anyone actually looked at what these new jobs ARE?! How about what they PAY?! How about looking at the number of food stamp recipients? Care to look at THOSE NUMBERS?!!! Care to put things into perspective?!
“Lying, Cheating and Stealing” seems to be the mantra of the left side TOO! You’re “enlightened” masters continue to pull the wool over your ignorant eyes TOO! And you leftist’s (like Eidard) are just a little too willing to “believe” what your masters are telling you. So don’t even THINK of looking at any other FACTS! You’re too religiously stupid! Your religion is obviously GOVERNMENT!