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Much-Anticipated Jobs Report Is Out (Who will be smiling (big) today)

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Unemployment Rate Drops To 7.8 Percent, Nearly 4-Year Low


unemployment stats jobs report

By Lucia Mutikani


WASHINGTON, Oct 5 (Reuters) - The U.S. 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.

It was the second last report before the Nov. 6 election that pits Obama against Republican Mitt Romney.

A Reuters/Ipsos poll released on Thursday after Wednesday's first presidential debate showed Romney gained ground and is now viewed positively by 51 percent of voters. Obama's favorability rating remained unchanged at 56 percent.

Economists blame the so-called fiscal cliff for the slowdown in business hiring, which has left millions of Americans working either part-time or unemployed and too discouraged to look for jobs.

The Congressional Budget Office has warned that a failure by Congress to avoid the automatic tax hikes and government spending cuts that will suck about $600 billion out of the economy next year would knock the economy back into recession.

"Businesses are not hiring people, they want to wait and see how the election evolves and how the political landscape shapes up," said Sung Won Sohn, an economics professor at California State University Channel Islands in Camarillo, California.


by on Oct. 5, 2012 at 9:17 AM
Replies (121-130):
_Kissy_
by on Oct. 5, 2012 at 5:21 PM
2 moms liked this
Yes there will be. President Obama 2.0

Quoting asfriend:

Except people aren't falling for it. there will be a new President Elect.




Quoting Saerise:

it's part of the Household data set from the Current Population Survey, which is a much thinner survey with much higher margin of error, which convneniently makes it much easier to fudge.  

And of course next month after everyone has already voted, these will be revised in line with expectations and nothing will be done about it.


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thecoffeefairy
by Bronze Member on Oct. 5, 2012 at 5:27 PM
I'm seeing we're hiring signs more frequently.
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LoriKeet
by on Oct. 5, 2012 at 5:45 PM
1 mom liked this
Hmmmm.....I wonder how this admin "tweaked" the numbers to make themselves look good?

They're forever calculating and recalculating....you know, the same way polls over sample Dems and registered or eligible voters in order to skew the results in favor of their candidate or agenda???
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LoriKeet
by on Oct. 5, 2012 at 5:49 PM
1 mom liked this
Would those be "livable wages" and jobs? Or seasonal, part time, minimum wage jobs?

There IS a difference, you know!


Quoting thecoffeefairy:

I'm seeing we're hiring signs more frequently.
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Lurion
by Member on Oct. 5, 2012 at 5:53 PM

"Whatever you believe, statistics will prove you right." 

Guess this report is no exception. lol

thecoffeefairy
by Bronze Member on Oct. 5, 2012 at 5:55 PM
I'm pretty certian I can tell the difference. Some are lower wage jobs, others secretarial. All which help people eat and have a place to live.


Quoting LoriKeet:

Would those be "livable wages" and jobs? Or seasonal, part time, minimum wage jobs?



There IS a difference, you know!




Quoting thecoffeefairy:

I'm seeing we're hiring signs more frequently.

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afwifey4510
by on Oct. 5, 2012 at 6:15 PM
1 mom liked this
Uh...I do! I do!

SCREW BIG BIRD! After all he's the reason for the debt to be that high. But only in the past 4 years, the 20 before that he was a money makin musheen!

Side note: Romney wants to stop funding pbs...a lot of jobs will be lost because he hates sesame st.


Quoting survivorinohio:

Ok you actually made me laugh out loud.

I recieved a lot of education at Akron U but I have still learned a lot from the ladies here, we have some very smart  and highly educated women in our midst.

You continue to show a closed mind.

No one wishes to have beliefs shoved down their throat I am sure.


Quoting Cakes24:

I'm so sorry that you chose to come here to learn....

When I said I don't want to be "educated" by the liberals in here, I meant that I don't want to have their beliefs shoved down my throat and I don't want them to try and change my mind with bs stats.


Quoting survivorinohio:

I am here primarily to learn and i believe wholeheartedly that even people who i fervently disagree with have something I can learn from them.  To declare you refuse to be educated implies that you do indeed have a closed mind.

Quoting Cakes24:

Why doesn't it surprise me that because I don't agree with you all that I'm "close-minded"?


Quoting survivorinohio:

Arent you just sunshine and flowers .

I just want to point our that beyond political affiliation there is humanity of which we are all a part which demands that we try to work together.  Closed minds are not the solution.



First, I'd like to point out your signature. It just shows so much about your character.

Second, that's not the real unemployment rate and anyone and everyone who thinks it is is just plain ignorant. I think a couple other repliers are absolutely right. If there was a change in the rate, it's only due to seasonal jobs and people who have stopped looking for work.

Third, I can't believe the lefty liberal pool I just jumped into. Wow...you people will say anything to defend our sorry excuse for a President.

Fourth, let it be known that I will not accept any attempt from you (liberals) to try to "educate" me with your crap statistics.


Quoting trippyhippy:

What's f@cked up is the conservatives actually want bad job numbers. How selfish and unamerican.








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fullxbusymom
by Bronze Member on Oct. 5, 2012 at 6:16 PM
1 mom liked this
Could say the same thing about Obama folks.

Quoting radioheid:

I knew the Romney folks would start reaching. Poor straw man is being torn apart.

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nb34
by Gold Member on Oct. 5, 2012 at 7:10 PM
1 mom liked this

From my personal experience things are looking better. My DH is employed but he is not working in his own field, he is now looking for job listings in his own field and there are a lot more jobs than there were two years ago. So we are hopeful that he can start teaching at a more prestigious university in his own field. Things are looking much better for us!!

Sisteract
by Whoopie on Oct. 5, 2012 at 7:30 PM
1 mom liked this

Just last  week in another political forum on CM, the conservies were droning on and on about how often PT and seasonal work turns into wonderful, FT employment.

I can't keep track of the constant change of position, tune, POV.

No wonder MR is the GOP candidate- the tactic appeases the party.

Quoting LoriKeet:

Would those be "livable wages" and jobs? Or seasonal, part time, minimum wage jobs?

There IS a difference, you know!


Quoting thecoffeefairy:

I'm seeing we're hiring signs more frequently.


Separation of church and state is for the protection of BOTH church and state.
Leading with hate and intolerance only leads to MORE hate and intolerance.
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