The economy added 114,000 jobs in September, bringing the unemployment rate down to 7.8 percent, the lowest it's been since January 2009

http://news.yahoo.com/blogs/ticket/economy-adds-114-000-jobs-september-unemployment-drops-123217935--election.html

Implications: After last month’s soft jobs numbers, today’s report on the labor market showed more improvement. Payrolls rose 114,000 in September and 200,000 including upward revisions for prior months. Civilian employment, an alternative measure of jobs that includes small-business startups, increased 873,000, the most in almost ten years. As a result, the unemployment rate fell to 7.8% despite a 418,000 increase in the labor force. (The unemployment rate is down from 9% a year ago even as the labor force is up a total of 805,000.) In addition, total hours worked increased 0.4% in September and average hourly earnings rose 0.3%. Total cash earnings went up 0.7% and are up 3.9% from a year ago. This proxy for consumer purchasing power means spending will continue to grow. So no wonder we will see good headlines on today’s report. However, the details were not quite as good as some of these headlines will suggest. Private sector payrolls were up 104,000 in September versus a consensus expected 130,000. In other words, the sector that beat the consensus in September was the government. Also, on net, all of the upward revisions to prior months were for government; private sector revisions were -5,000. Manufacturing, in particular, looks softer, with payrolls in that sector down 16,000 in September after a 22,000 drop in August. (Only some of this is related to changes in the timing of auto retooling.) So it appears industrial activity, which led the early part of the private-sector recovery, is now losing steam. Also, the huge rise in civilian employment was goosed by part-timers, with a 322,000 overall gain and a 582,000 increase for those working part-time for economic reasons. Although the labor force participation rate ticked up to 63.6%, it is still down from 64.1% a year ago. After last month’s disappointing report, we wrote that “some of the fluctuations in job creation appear to be seasonal….(i)f these patterns continue to hold, expect a stronger jobs report next month.” What’s important, now that we’ve seen the better report, is to not get tricked into thinking the economy is anything more than a plow horse, with modest economic growth and gradual improvement in the labor market. In other recent news on the labor front, new claims for unemployment insurance were up 4,000 last week to 367,000. Continuing claims for regular state benefits were unchanged at 3.28 million.
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http://www.shadowstats.com/

nyvector16 wrote:

GustavBahler wrote:I wouldn't put any stock in those numbers, not so much the decline in the rate but the overall employment rate itself. This is a great site that shows the real numbers, how they were measured before they were doctored by the government to make the economy look better than it really is. Its been recommended by nobel prize winning economists.

http://www.shadowstats.com/

It was Ronald Reagan that changed the way the government tracks unemployment.

Also... it was Ronald Reagan that put a cap on Social security tax so that Millionaires keep more of their cash...
Also... it was Ronald Reagan that changed things so the government could use the Social Security Trust fund as a personal piggy bank putting the entire thing in jeopardy when the debt to that fund is attacked as an indicator that America can no longer afford social security.

Golly, and I thought everything wrong in the world was Bush's fault! Silly me.

Anyway, I hear heating oil prices are going down too. Wonder what the conspiracy theorists will do with that one before the next debate.

Obama's going to win. He could show up to the next debate, say nothing and just projectile sheehit all over the camera and it won't make a difference.

He can afford to look indifferent and bored.
Obama thinking: "...Mitt Romney??? This is the best they could come up with?"
The second term's in the bag folks.

Move on.

StraightShot wrote:It's a sad day when the Labor Department is making up unemployment numbers to try to prop up an incompetent president.

Why does it not surprise me that you're a wingnut? Do you have any evidence that this happened? And no, yours and the Republican party's fevered imaginations don't count.

The jobs are real. I actually know several people who got jobs. The thing is that the more people that get jobs the more consumers we have and that feeds on itself and creates a positive movement in the economy. We have to feed that fire rather than have the Republicans continue to throw cold water on it again. I hope the Democrats get the Senate and the House back cuz i'm tired of all this stalling of the Economy. We need the American Jobs Act to be passed and get people back to work rebuilding the country.

jrodmc wrote:

nyvector16 wrote:

GustavBahler wrote:I wouldn't put any stock in those numbers, not so much the decline in the rate but the overall employment rate itself. This is a great site that shows the real numbers, how they were measured before they were doctored by the government to make the economy look better than it really is. Its been recommended by nobel prize winning economists.

http://www.shadowstats.com/

It was Ronald Reagan that changed the way the government tracks unemployment.

Also... it was Ronald Reagan that put a cap on Social security tax so that Millionaires keep more of their cash...
Also... it was Ronald Reagan that changed things so the government could use the Social Security Trust fund as a personal piggy bank putting the entire thing in jeopardy when the debt to that fund is attacked as an indicator that America can no longer afford social security.

Golly, and I thought everything wrong in the world was Bush's fault! Silly me.

Anyway, I hear heating oil prices are going down too. Wonder what the conspiracy theorists will do with that one before the next debate.

Obama's going to win. He could show up to the next debate, say nothing and just projectile sheehit all over the camera and it won't make a difference.

He can afford to look indifferent and bored.
Obama thinking: "...Mitt Romney??? This is the best they could come up with?"
The second term's in the bag folks.

Move on.

There are a lot of factors that came into play. But most of this is all Bush and Chaney. I understand the war on terror and all it was necessary but the vendetta war with Iraq was a joke and cost the USA a lot. Obama is trying his best With the situation that has been handed to him.

As far as the employment rate that is a BS number it doesn't take into consideration people who have given up looking for jobs. Also once you stop Collecting unemployment you don't show up as unemployed.

Besides that you have highly qualified individuals working as cashiers at McDonalds, target and Walmart. So the employment rate doesn't really take into consideration whether an individual is doing the job that his skill set is geared to or what his education equivalent is.

Then you have Romney talking out of his you know what thinking he can change the system he doesn't have a clue as to how hard the job is. That is what I got out of the debate you had Obama who deals with this on a daily basis and then you have Romney making empty promises.