After a dismal debate performance on Wednesday night, President Obama got the best possible economic news this morning when the federal government reported that the unemployment rate had fallen to 7.8 percent in September - just below the 8 percent rate above which no incumbent has been reelected since World War II.
The Bureau of Labor Statistics said employers added 114,000 jobs in September, and it revised previous numbers to show the economy also created 86,000 more jobs in July and August than first estimated.
Comments
The CNBC finance chick was on MSNBC this morning and she said that there are 80 economists at Morgan Stanley who are arguing these numbers are bogus. Again. It is true that virtually every one of these reports has been adjusted 'significantly downward' in 39 out of 44 months a few weeks later. Is the media really going to sell us this propanganda like they sold us the Libya story??!?
We go right back into the double-dip no later than 2014 if Obama is re-elected or if the senate remains Democrat. Even Obama losing the election may not be enough to avoid this. All of the money Obama wasted and all of the bills for his fantasies come due AFTER the election! Timing on purpose. Stimulus was purposely delayed two years ago so that you would "feel" it kicking in just before the election! Neat trick but that meant you were miserable and spinning your wheels going nowhere for an extra two years while Obama and Democrats played this game.
This comment has been removed.
This is what the Right Winers will say: "The numbers are lies and I'll talk about Obama's bad debate night. Must change the subject and root against America as I usually do, and I'll make up my own facts like I usually do and say the unemployment rate is really 90%, unless a Republican is in office, in which case it is 2%!
What a tool.
Still poor numbers and after all these years . . . When are you guys going to report on something of substance like, for example, sequestration, WARN and the administration's . . . er, Department of Labor's requests that defense contractor ignore their legal obligations not to mention their promise to indemnify contractors for imposed penalites with the taxpayers' funds?
Geez-- Republicans really do have a problem with math! Fixing the mess that George W. Bush made over eight years was never going to happen in four years.
As usual, the Republicans and Right Whiners root against America when it suits their purposes! All good news is bad to them...in fact there is NO good news according to them!
"No good news...."? Gee, remind me to call you when I need you to speak in general terms about how Republicans feel (of which, I'm not registered as). Take it up a notch if you want to be taken seriously.
Why would anybody register as a Republican in Massachusetts unless they don't like to vote in primaries?
lordchaucer is certainly a bit over the top, but less so than most on the right. I'm continually shocked at how many of them express disappointment when anything good happens in the economy, on the battlefield, in foreign relations, etc. I myself seriously question their patriotism.
lordchaucer, et al. some info:
Recall back in September one of our Charts of the Day was the number of Unemployed and Underemployed for the month of August, which was 25.8 million. Readers may be surprised to learn that when putting it all together, in September this number increased to 26.2 million
http://www.zerohedge.com/news/2012-10-05/reason-todays-unemployment-rate-plunge-part-time-jobs-economic-reasons-surge-most-qe
CNBC is as confused as the rest of us:
Job growth remained tame in September, with the economy creating just 114,000 net new positions though the unemployment rate fell to 7.8 percent, the first time it has been below 8 percent in 43 months.
The report presented a slew of contradictory data points, with the total employment level soaring despite the low net number.
The falling jobless rate had been a function as much of the continued shrinking in the labor force as it was an increase in new positions.
Why are you hoping that the job situation is getting worse? You're going out of your way to look for pessimistic assessments of the jobs report. Why to you hate this country and its people?
This comment has been removed.
It's too bad that an incumbent can lose based on a number. Voters should realize, as the President has repeated many times, he is aware that growth is sluggish but it has improved. So you want it to grow faster and figure that Romney would do the trick? The economy is largely its own dictator. Government can do only so much. Romney would do no better. So let's keep the lesser of two evils in office, Obama. And I wish that in the next debate Mitt, with his condescending half-smile, stops staring at the President while he speaks as if he were one of his employees.Whoever advised him to do that was one gifted individual. Romney is winning with his looks as well.I wish for the next debate he would forget to shave.
This comment has been removed.
Romney would be George Bush III. The economy would do worse under Romney, who would have the same advisors and policy wonks (who trashed our economy and led us into unfunded wars) as George Bush II.
RileysDad - I have Republican friends. Have you watched Fox News today? All day they have been questioning the 7.8% and saying that the President all but went in and cooked the books! Hey...I have Republican friends yes, but they don't yell and try to make good news into bad news like many posters here. Most of the time I'm simply being satirical dude.