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October 05, 2012 04:30 PM UTC

Unemployment Falls Below 8% Nationally

  • 22 Comments
  • by: Colorado Pols

As the Washington Post reports:

The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The rate declined because more people found work, a trend that could have an impact on undecided voters in the final month before the presidential election.

The Labor Department said Friday that employers added 114,000 jobs in September. The economy also created 86,000 more jobs in July and August than first estimated. Wages rose in September and more people started looking for work.

The revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months. The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office.

Getting unemployment under 8% ahead of the election is a big psychological milestone, but the underlying numbers in this report–upward revision of job creation numbers for prior months, higher wages, and the fact that there are finally more jobs in America than before the economic collapse of 2008–all bode very well politically for President Barack Obama.

We realize the “confidence fairy” isn’t supposed to come out of hiding until…well, you know, after November 6th, but it seems as though she’s making an appearance a few weeks early.

Still good news, right? If you don’t think so, maybe your priorities are a bit skewed.

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22 thoughts on “Unemployment Falls Below 8% Nationally”

  3. Huge, positive news for the President.  I can’t explain why the rate fell (perhaps the upward revisions from prior months), but who cares?

    This is the October surprise game changer that will swing undecideds.

    Game, set, ……

      2. How the hell can any of these red blooded red staters actually believe all the media gushing over Mitt’s lying failure to fuck-up?  Nothing but hypocrites.

        Here are some economic facts:

        Foreclosures down

        Auto sales up

        New home construction up

        Retailers predicting best holidays season in 4 yrs

        July-Aug-Sept jobs all show steady growth

        Sure makes Mitt’s bald-faced lies even more embarassing (unless you’re a GOPer, then nothing embarasses you).

  4. @jack_welch had this to say:

    Unbelievable jobs numbers..these Chicago guys will do anything..can’t debate so change numbers

    They can’t erase Mitt’s flip-flops and anti-working people statements, or produce an actual plan he’s proposing. Obama is succeeding despite the GOP’s total refusal to cooperate. This drives them mad.

      1. it seems to be all about system failures and maintenance issues. Those are mostly phony, I’ll bet… planned and carried out by the high muckety-mucks in the O&G industry.

    2. well he does have a helluva history increasing unemployment and off-shoring jobs.  Hmm, first 4 yrs of his tenure Neutron JackAss pink-slipped over 100,000 folks — so just another “I like to fire people” 1%er turd.

        1. Welch was reacting with suspicion based on years of gut instinct. These numbers don’t make sense. I won’t make accusations without being able to back it up, but I wouldn’t be surprised if these numbers are revised way down after the election.

          It’s not tinfoil hat to suggest this is possible. It’s reality and human nature.

          2. Darn tootin’. Republicans have been doing everything they can to keep the recovery from gathering steam, and we know how competent they are at obstructing a recovery. It just doesn’t make sense they could have failed at this on top of everything else they’ve screwed up. No sense at all.

          3. you can’t possibly expect to win the award for dick comment of the week every week . . .

            Honestly, you’ve gotten a little stale — your pee joke repertoire could use an update.

  5. was going to rebound anyway so there wasn’t going to be too much that he would have to do?

    Looks like the rebound came a early in spite of Republican obstruction of monumental proportions.  

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