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Mixed Jobs Report Shows Unemployment Down to 7.8%

ResistWeMuch Wrote: Oct 05, 2012 6:40 PM

were being created during the Reagan Recovery when GDP was 7-8%. As a reminder, GDP for Q2 of 2012 was revised down to 1.2%. U-6, which counts part-timers, who want full-time work, and the discouraged, is 14.7% and has remained unchanged. If the underemployed (people working a jobs below their skill-sets) are included, the U-6 hits the high teens or low twenties. All combined, there are about 23 million Americans unemployed or underemployed. http://predicthistunpredictpast.blogspot.com/2012/10/the-september-jobs-report-big-lie.html

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Mixed Jobs Report Shows Unemployment Down to 7.8%

The jobs report prepared by the Bureau of Labor Statistics had mixed news today. Job growth was mediocre - only 114,000 new jobs were added in September, which isn't even enough to keep up with population growth. The top-line unemployment number fell to 7.8% and there was actually an increase in the labor force participation rate.

The biggest news consisted of revisions to previous reports. BLS revised the previous two months up by almost 100,000 total jobs (there were 40,000 more jobs added to August and 44,000 jobs added to July).

The economy has remained sluggish, even with the...

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