Unemployment Rate Drops to 7.8 Percent; 114,000 Jobs Added to Payrolls

US News • October 2012 • Views: 1,751

Unemployment Rate Drops to 7.8 Percent; 114,000 Jobs Added to Payrolls : The Two-Way : NPR

The nation’s unemployment rate fell below to 7.8 percent in September from 8.1 percent in August even though just 114,000 jobs were added to private and public payrolls, the Bureau of Labor Statistics reports.

We’ll have more from the report, as well as reactions to it, shortly. As we said Thursday, this news is sure to be a hot topic on the campaign trail.

Update at 8:35 a.m. ET. First Time Below 8 Percent Since January 2009:

At 7.8 percent, the jobless rate is back where it was in January 2009 and is below 8 percent for the first time since President Obama was sworn in that month.

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10 comments

mr.fusion Fri, Oct 5, 2012 7:00:51am

Sounds "skewed" to me. Some guy unskewed them and showed the unemployment rate is almost eleventy!!!!11!1

In all seriousness though, this is great news. Sounds like a damn good report, or as they're saying over at HotAir, "contradictory."

alinuxguru Fri, Oct 5, 2012 7:46:20am

That awkward moment when you realize your entire campaign is based on a single data point and nothing more.

Bulworth Fri, Oct 5, 2012 8:14:58am

Who will be first teabagger congresscritter to introduce legislation eliminating the BLS or Department of Labor? //

philosophus invidius Fri, Oct 5, 2012 8:28:40am

Here's a challenge: try to find this news on foxnews.com. (Hint: it's between the headline about Biden's promise to hike taxes and the link to an opinion piece about why the jobs outlook is "grim.")

Bulworth Fri, Oct 5, 2012 8:40:54am

These unemployment numbers are so bad and so skewed and so "grim" that we pledge to take away the Fed's mandate to achieve full employment.

Randall Gross Fri, Oct 5, 2012 8:52:11am

The right keeps pimping the meme that the workforce decreasing is a bad thing... but it's really a good thing, and a demographic certainty due to the baby boom. Many old folks who had held off retiring are finally feeling confident enough to retire, making room for young workers.

Steve Fri, Oct 5, 2012 8:58:35am

National News (CBS ?) this morning said that a lot of the 114,000 jobs created were part-time. No nealth care, no retirement, no vacation etc, etc.
The talking female head also said that it looks like people are more interested in making their house payments and are taking lower paying jobs so as not to lose the house.

philosophus invidius Fri, Oct 5, 2012 9:20:58am

re: #7 Steve

That is why we need Obamacare and Romeny is a LIAR when he says that his plan covers pre-existing conditions.

Sophia77 Fri, Oct 5, 2012 9:34:25am

He lied about a bunch of things including the offshoring tax credit.

Bulworth Fri, Oct 5, 2012 10:19:52am