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More Bad News for Mitt, Good News for America: Unemployment Rate Drops to 7.8%, Lowest Since Jan. 2009

ProudProgressive 2012/10/05 12:41:57

While the Romney campaign is in full scramble trying to explain the numerous lies Mitt Romney told during Wednesday's debate, the Right Wing got some more bad news this morning, as the national employment picture continued to improve. No longer can Romney crow about consecutive months above 8% unemployment (knowing full well that without Republican obstructionism that number would be below 6% by now). He might even be forced to explain how he expects to create any jobs by repeating the failed policies of the Bush Administration that drove the unemployment rate up to 10%.

Article excerpt follows:

BREAKING: Unemployment Rate Unexpectedly Drops to 7.8%, Lowest Since Jan. 2009
October 5, 2012

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.

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.

Read More: http://foxnewsinsider.com/2012/10/05/new-unemploym...

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  • C. C. Rider 2012/10/05 13:18:53
    C. C. Rider
    +13
    Romney has lost the war. HE had ninty minutes of fame and that was it. HE was acting so bizare even his wife would not let him in the door asking who the hell was that on stage? LOL I would have drug tested him before the debate. HE looked not only constipated but amped up on meth.

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  • **StarzAbove** 2012/10/05 23:58:08
    **StarzAbove**
    Looks like this might be the final nail in Romney's coffin. Already the righties are complaining about this. Saying the president has cheated. But, we expected it, didn't we? lol
  • santa6642 2012/10/05 23:42:36
    santa6642
    Dream on that is BS it's up, up and AWAY
  • rustyshackelford 2012/10/05 22:59:34
  • Darkitec 2012/10/05 19:53:53 (edited)
    Darkitec
    And if you really believe these cooked figures (remember government math is not real math) you really are stupid. Both sides do this but it doesn't change the fact that less people were able to find full time work in September than in August, There are less people working full time than there were just one year ago. The real unemployment rate is or or around 15% and the politicians in control of this country are doing nothing to change that other than manipulate how they calculate the figures.
  • HOMBRE 2012/10/05 19:37:59
  • UnusualSuspect 2012/10/05 19:36:40
    UnusualSuspect
    +2
    *humming the tune..."Dancin' in the Street" by Martha Reeves and the Vandellas...*

    Not only did the unemployment rate drop to 7.8%, a Gallup poll released today says that Obama's approval rating has increased to 54%...highest in 3 years!

    http://www.businessinsider.co...
  • heirsoftheking 2012/10/05 19:35:50
    heirsoftheking
    These unemployment numbers are screwy. Even MSNBC and CNN don't believe these numbers. Here's the weblink:
    http://www.breitbart.com/Big-...
  • KAREN JAMES 2012/10/05 19:13:20 (edited)
    KAREN JAMES
    We know things are getting better. Housing, jobs and slowly Obama is add new opportunities to prove training for the new jobs being created...all of this without the BUM PARTY in the Congress.
  • AndrewTally 2012/10/05 18:36:17
    AndrewTally
    +1
    Don't get me wrong - I am a Progressive. However, Obama's "$5 trillion" tax attack is a lie itself.

    The Obama camp ignored any revenue raised by reducing tax breaks. I've seen Obama sympathizers cherry-pick Romney's words and the TPC analysis.

    If Romney were indeed to recoup losses - then this would include trimming tax deductions, and tax breaks. If he is right and the tax system ends up with lower rates - this would boost economic growth.
  • lawsdau 2012/10/05 18:21:06
    lawsdau
    Let's see...to use someone else's words.... the administration ..."celebrate recent improved economic statistics... I've heard from people who say it's way too early to claim victory when it comes to our economy. After three dismal years of job loss for most Americans, the health of our economy is measured in a different and more personal way. "
    Oh, but those words were used when we had a job growth of over 300,000 jobs for two or three months in a row, by Obama.
  • Todd Parsons 2012/10/05 18:10:02
    Todd Parsons
    +1
    This morning, the Wall Street Journal reported the following:

    "U.S. payrolls, obtained in a separate survey of employers, increased by a seasonally adjusted 114,000 jobs last month, the Labor Department said Friday. Economists surveyed by Dow Jones Newswires expected a gain of 118,000 in payrolls and an 8.1% jobless rate."

    So, a gain of 118,000 would have resulted in an 8.1% rate but a gain of 114,000 resulted in a 7.8% rate? How do fewer jobs actually result in a lower unemployment rate?

    DO you honestly think the creation of a mere 114,000 jobs adds up to .3%?
  • KG 2012/10/05 17:56:19
    KG
    +1
    Dismal numbers. I remember in 2004 we had 4% unemployment, these are horrible.

    Could you imagine 90 + million people in line for food stamps, as they would have done in the 1930's. You don't see them because its put on swipe cards! 6 TRILLION in new debt in 4 years! QE unlimited on its way.

    I fear for America, and its sheeple.
  • jerry 2012/10/05 17:49:24
  • ★~DoctorWhoGuru~★ 2012/10/05 17:19:23
  • Studied 2012/10/05 16:57:41
    Studied
    +1
    The 7.8 number is not an accurate reflection of the economy. I have posted this information before, but will continue to repost it until everyone understands how our nation is being misled. Please read the following in full. These facts are taken from the government website and will paint a totally different picture:

    There is much more to why this number has dropped so drastically. I pointed about two months ago of a fact that no one talks about. It involves the change to the length of time a person can collect unemployment benefits. We all know that if you no longer collect these benefits, you fall of the statistics for computing the unemployment rate. So once again I will explain how these figures changed starting in September of this year. Please take the time to read this and educate yourself about this process.

    In February of 2012 Congress approved legislation that will fully cut the length of time a person is eligible to collect unemployment insurance beginning in September of 2012. Up until this time the jobless have been able to collect up to 99 weeks of unemployment since November 2009, as part of the nation's unprecedented response to the Great Recession.
    Starting in September, the jobless in states with unemployment rates below 6%, such as North Dakota and Ver...











    The 7.8 number is not an accurate reflection of the economy. I have posted this information before, but will continue to repost it until everyone understands how our nation is being misled. Please read the following in full. These facts are taken from the government website and will paint a totally different picture:

    There is much more to why this number has dropped so drastically. I pointed about two months ago of a fact that no one talks about. It involves the change to the length of time a person can collect unemployment benefits. We all know that if you no longer collect these benefits, you fall of the statistics for computing the unemployment rate. So once again I will explain how these figures changed starting in September of this year. Please take the time to read this and educate yourself about this process.

    In February of 2012 Congress approved legislation that will fully cut the length of time a person is eligible to collect unemployment insurance beginning in September of 2012. Up until this time the jobless have been able to collect up to 99 weeks of unemployment since November 2009, as part of the nation's unprecedented response to the Great Recession.
    Starting in September, the jobless in states with unemployment rates below 6%, such as North Dakota and Vermont, will get a maximum of 40 weeks of checks. Now they get as much as 60 weeks. Those in the 6% range will get no more than 54 weeks, a reduction of as much as 32 weeks.

    Unemployed residents of states around the national average, currently at 8/3%, will get a maximum of 63 weeks, which equates to a drop of as much as 36 weeks.
    The jobless living in states with unemployment rates above 9% will top out at 73 weeks, down 26 weeks from the current 99-week maximum. These states currently include Florida, California and Nevada.

    What this actually means is massive amounts of unemployed will drop off the polls and no longer be counted, just in time for pre-election October 2012 reports to be announced.

    Add to this the following information:
    Government sector unemployment has dropped dramatically from 5.7 percent in July to 5.1 percent in August to 4.3 percent in September, according to the Bureau of Labor Statistics.
    Both the federal and state governments increased their employees in July, August and September.
    The Obama administration has added 10,000 civilian workers to the federal government's payroll since July, according to BLS. In that month, the federal government employed 2,804,000 civilian workers. In August, that increased to 2,810,000. And, in September, the number of civilian federal employees increased again to 2,814,000.

    Also add the huge part-time worker increase which is really attributed to citizens being hired to work for the election process.
    (more)
  • JP 2012/10/05 16:52:30
  • Semper Fi 2012/10/05 16:41:42
    Semper Fi
    +2
    Just more fuzzy math designed to win over the sheeple before the election.

    "The slow pace of improvement in the labor market is evident in another measure of unemployment known as the U6 rate, which includes those who can only find part-time jobs or have given up looking for work.

    The U6 jobless rate was unchanged at 14.7% last month."
    .
  • FatherLiberty 2012/10/05 15:52:54
    FatherLiberty
    +3
    False numbers once again... Unemployment figures are the biggest joke. When you include the underutilized labor figure with the eight million Americans who have lost hope altogether and stopped looking for a job, real unemployment stands at just under 19 percent.

    If the labor force participation rate was the same today as it was back when Barack Obama first took office, the unemployment rate in the United States would be a whopping 11.2 percent. But every month the Obama administration has been able to show “progress” because of the fiction that hundreds of thousands of Americans are “disappearing” from the labor force each month. Frankly, the way that they come up with these numbers is an insult to our intelligence. Personally, I much prefer the employment-population ratio. It is a measure of the percentage of working age Americans that actually have jobs.

    In August 2010, 58.5 percent of working age Americans had jobs.

    In August 2012, 58.3 percent of working age Americans had jobs.

    In July, 142,220,000 Americans were working. In August, only 142,101,000 Americans were working. So the number of Americans working fell by 119,000 and yet the government would have us believe that the unemployment rate actually declined from 8.3 percent to 8.1 percent.

    -According to...



    False numbers once again... Unemployment figures are the biggest joke. When you include the underutilized labor figure with the eight million Americans who have lost hope altogether and stopped looking for a job, real unemployment stands at just under 19 percent.

    If the labor force participation rate was the same today as it was back when Barack Obama first took office, the unemployment rate in the United States would be a whopping 11.2 percent. But every month the Obama administration has been able to show “progress” because of the fiction that hundreds of thousands of Americans are “disappearing” from the labor force each month. Frankly, the way that they come up with these numbers is an insult to our intelligence. Personally, I much prefer the employment-population ratio. It is a measure of the percentage of working age Americans that actually have jobs.

    In August 2010, 58.5 percent of working age Americans had jobs.

    In August 2012, 58.3 percent of working age Americans had jobs.

    In July, 142,220,000 Americans were working. In August, only 142,101,000 Americans were working. So the number of Americans working fell by 119,000 and yet the government would have us believe that the unemployment rate actually declined from 8.3 percent to 8.1 percent.

    -According to the federal government, 96,000 jobs were added to the economy in August and the U.S. labor force shrank by 368,000 even though our population is continually growing. If the size of the U.S. labor force had stayed the same, the official unemployment rate would have actually gone up to 8.4 percent.

    -Almost all of the new jobs added in August were the result of the “birth-death” model used by the Labor Department to estimate jobs added by new businesses. That model has been heavily criticized for being inaccurate. If you take the 87,000 jobs added by that model out of the equation, then the U.S. economy only added 9,000 jobs in August. But it takes somewhere around 125,000 new jobs each month just to keep up with the growth of the population.

    So where is the recovery?
    (more)
  • Phantom FatherL... 2012/10/05 16:13:02
    Phantom
    +1
    Spin it all you can !!! It still comes out to 7.8 %
  • FatherL... Phantom 2012/10/05 16:19:06
    FatherLiberty
    +3
    No its doesnt, thats the entire point! 7.8 is a lie based on manipulated numbers. I am not spinning it at all, because I have no motivation to. I dont argue the number to make Obama look bad or support Romney, because I dont like either of them. The fact is, the numbers are lies.
  • Semper Fi Phantom 2012/10/05 16:44:23 (edited)
    Semper Fi
    +1
    Because you refuse to believe what they are feeding you is a bunch crap..

    Including those who can only find part-time jobs or have given up looking for work all together, the jobless rate was unchanged at 14.7% last month.

    So what are you having for desert?
  • Phantom Semper Fi 2012/10/05 19:55:11
  • Semper Fi Phantom 2012/10/05 20:09:28
    Semper Fi
    Pssst! Think you got a little on your chin there.
  • Stratweenie57 2012/10/05 15:45:50
    Stratweenie57
    +2
    I smell a rat...a not so rare breed in the obah-mao-nation,I think it'a called a POTEMKIN Rat.....
  • American 2012/10/05 15:41:17
  • Semper Fi American 2012/10/05 16:45:48
    Semper Fi
    +2
    Including those who can only find part-time jobs or have given up looking for work all together, the jobless rate was unchanged at 14.7% last month.
  • Embalmer 2012/10/05 15:17:49
    Embalmer
    +4
    Great link!!

    "The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office."

    Now we'll hear how the underemployment rate is the true unemployment guide, but rightists didn't even mention that when Bush was in office.

    Apparently only Democrat's are subject to the right wing unemployment "philosophy."
  • Rogue_Loner 2012/10/05 14:41:05 (edited)
  • ProudPr... Rogue_L... 2012/10/05 15:21:11
    ProudProgressive
    +2
    They generally don't do Christmas hiring in the summer.
  • Rogue_L... ProudPr... 2012/10/05 15:22:30
  • American ProudPr... 2012/10/05 15:44:03
  • Shinime... Rogue_L... 2012/10/05 15:23:05
    Shinimegami
    +1
    Temp jobs aren't counted for the unemployment figures.
  • Rogue_L... Shinime... 2012/10/05 15:24:26
  • Idiot r... Rogue_L... 2012/10/05 15:30:05
    Idiot repubs
    +2
    Teachers aren't counted as unemployed in the summer, you fool
  • Rogue_L... Idiot r... 2012/10/05 15:30:50
  • Shinime... Rogue_L... 2012/10/05 15:32:09
    Shinimegami
    +1
    No they're not you fool. You think teachers get unemployment benefits over the summer?
  • Rogue_L... Shinime... 2012/10/05 15:34:21
  • marcuss... Rogue_L... 2012/10/05 15:37:50
    marcuss LIBERALS ARE TRAITORS
    +4
    You can't give these ass clowns facts, they can not comprehend truth.
  • Rogue_L... marcuss... 2012/10/05 15:39:06
  • Idiot r... Rogue_L... 2012/10/05 17:23:41
    Idiot repubs
    +1
    You guys are liars, just like your lying heroes.

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