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Mixed Jobs Report Shows Unemployment Down to 7.8%

sergeantsnerdley Wrote: Oct 05, 2012 1:19 PM
But despite a price tag that the Congressional Budget Office now says was $833 billion, the economic stimulus of February 2009 did not create 400,000 new construction jobs. In fact, according to the Bureau of Labor Statistics there are now 1,035,000 fewer construction jobs in the United States than there were in January 2009, when Obama was inaugurated, and 925,000 less than in February 2009 when Obama signed his stimulus act. http://cnsnews.com/news/article/1035000-construction-jobs-lost-under-obama So much for the shovels.
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...