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Mixed Jobs Report Shows Unemployment Down to 7.8%

rmt5 in MA Wrote: Oct 05, 2012 10:06 AM
Suddenly there is an UPWARD correction to prior months when there has been nothing but downward adjustments for years? They don't even pretend to be credible. In an improving jobs market it is more likely that there would first be months with NO adjustments either way. To suddenly adjust upward for the past TWO months is as sleazy as it gets.
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...