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Mixed Jobs Report Shows Unemployment Down to 7.8%

rickmcq Wrote: Oct 05, 2012 10:42 AM
Relax - this is just the first report: recent history shows that DoL will continue raising the unemployment numbers for the next few months, while the MSM ignores the revision.
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...