BREAKING: Excellent news on the employment front! *"Unemployment rate way down to 7.8%" *"Big revisions. Combined +86k for July Aug." *"Huge gain in employment per household survey." *"Household survey really just crushes it. +873k employed, +418k on labor force, MINUS 456k on unemployed." *"This makes me think that the improvement in the consumer confidence surveys in recent was picking up something real." *"With revisions, summer lull in job growth wasn't much of a lull at all." Also note that four years ago at this time, the economy was hemmorhaging jobs, with 159,000 jobs LOST in September 2008, the 9th straight month of job LOSSES that year. Are we better than we were four years ago? YES, and by a long, long ways! Thank you, President Obama! (The Washington Post notes that "There are now 325,000 more than when Obama took office." If you think about that for a few minutes, consider the absolute free fall/disaster Obama walked into, that's nothing short of incredible, astounding, impressive, whatever word you want to use. Wow.) P.S. There goes the Romney campaign's moronic line that "unemployment's been above 8% for xx months." That was always absurd, as it ignored a million things (e.g., when the recession began and WHY it began, the fact that unemployment's been coming down steadily the past 3+ years, the fact that this progress has occurred in SPITE of Republican obstructionism and their monomaniacal focus on causing President Obama - and along with it the US economy - to "fail"). Can we say "FOUR MORE YEARS?" :) UPDATE: Here's the BLS report, which has more good news such as... *"In September, the number of job losers and persons who completed temporary jobs decreased by 468,000" *"Total employment rose by 873,000 in September" *"The employment-population ratio increased by 0.4 percentage point to 58.7 percent" *"The change in total nonfarm payroll employment for July was revised from +141,000 to +181,000, and the change for August was revised from +96,000 to +142,000" UPDATE #2: Oh, and for all the crazy Republican conspiracy theorists out there, claiming that these numbers were made up to help Obama before the election, consider this: TrimTabs (private firm) estimated even BETTER numbers (+210k jobs in 9/12), as did private firm ADP (+162k jobs in 9/12). Big conspiracy, I guess! LOL |