In response to:

Unemployment Rate 7.8%- The Web's Most Complete Report

RockinRickOwen Wrote: Oct 06, 2012 10:31 AM
OK, I'm not even going to pretend to understand all the accounting data, but I know at least one job that changed: mine. I went from part time to full time, officially, partly because my part-time job, after three months, had consisted of nearly 40 hours per week, each week. By law, I was a full-time employee. This situation occurred by necessity, being the main 3rd shift guy four nights each week, from 10 pm to 7:30 am (or 8:30 am when I actually clock out on days my manager shows up late). I wonder how many jobs when full-time because their employers didn't want to hire new part-time workers?

Initial Reaction and Election Impact

The establishment report of +114,000 jobs was pretty much about what most expected. The four-month average is a mere 120,000 a month (a very weak set of establishment numbers for this point in a recovery).

However, the household survey surprise shows the unemployment rate fell three-tenths of a percent to 7.8%.

On the surface, this is a solid showing, and 100% certain to boost the Obama campaign. I suggest these numbers will overshadow a horrendously weak...