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