05
Oct
12

Unemployment falls to 4-year low

Steve Benen: If recent history is any guide, Republicans will probably start complaining about the Bureau of Labor Statistics sample size any minute now, complaining it’s “skewed.”

The new jobs report released this morning was largely in line with expectations, showing a U.S. economy that added 114,000 jobs in September…..

Given the severity of the Great Recession that began in late 2007, and the losses associated with the years-long jobs crisis, no one should pop any champagne over 114,000 new jobs…..

The reason, however, that the new report is encouraging is the larger context: the unemployment rate dipped to 7.8%, which is nearly a four-year low, and the revisions found 86,000 additional, unreported jobs from the last two years.

More here


117 Responses to “Unemployment falls to 4-year low”


  1. 7 symmetry11
    October 5, 2012 at 9:13 am

    Yay!

  2. 8 Proud Former White House Intern
    October 5, 2012 at 9:14 am

    Yes Lord!

  3. 9 japa21
    October 5, 2012 at 9:15 am

    Good morning all. Great news to wake up to.

  4. October 5, 2012 at 9:16 am

    Wonderful news. Good morning Chips and TOD.

  5. 11 daiseymay1
    October 5, 2012 at 9:16 am

    I sobbed with tears of joy when I read the unemployment figure. On to victory Obama2012

    • 12 jackiegrumbacher
      October 5, 2012 at 9:20 am

      Yes, Daisey, who would have thought that unemployment statistics could make a person emotional. I never followed them before, now I wait for them anxiously and either feel depressed or shout with joy. Today’s a joy today. Hallelujah!!

  6. 13 joyce
    October 5, 2012 at 9:16 am

    Thank you Lord.

  7. 14 utaustinliberal
    October 5, 2012 at 9:20 am

  8. 16 utaustinliberal
    October 5, 2012 at 9:23 am

  9. 17 utaustinliberal
    October 5, 2012 at 9:24 am

  10. 19 SUE DUVALL SMITH
    October 5, 2012 at 9:25 am

    LOVE THE REPORT THIS MORNING….LOLLLLLLLLLLLLLLLLLLL TO THOSE ROMNEY LOVERS WHO MAKE SUCH A MESS OF THEMSELVES! GO PBO…MAY THE LORD DEEPLY BLESS YOU…HOPE YOU GET MY CARD SOON!

  11. 20 Don
    October 5, 2012 at 9:27 am

    The guy has 30,000 people show up for a rally after he supposedly has his ass handed to him after a debate in which his opponent lied about everything under the goddamn sun. And now this morning on “Morose Joe” Joe has a sad because the jobs rate fell below 8 percent, give me a fucking break.

    • 21 Michele
      October 5, 2012 at 9:33 am

      Don, if all goes as plan I am going to watch Morning Joe on 11-7-2012 and smile, smile, and smile liked I’ve never smiled before. Because to see morning Joe depressed will be worth all the bull shit I had to listen to from him for the last two years. I betcha his ass doesn’t show up to work so I don’t get the satisfaction.

      • 22 Puddin'
        October 5, 2012 at 7:21 pm

        Bless your heart :-). Michele even if “Morose Joe” doesn’t show up on 11-2-2012, his absence won’t change a thing and he won’t be able to hide forever!!!!

    • October 5, 2012 at 10:16 am

      36,000+ – can’t forget those 6,000 in the overflow!

    • 24 theo67
      October 5, 2012 at 1:39 pm

      Those who said Romney “won” have a strange definition of “winning”. And a strange set of values. Only the most cynical, depraved individuals could think that Romney showed the world any qualities that would be admirable in a President. There was only one person on that stage who respects the Office of the President – the current occupant.

      • 25 Puddin'
        October 5, 2012 at 7:26 pm

        “…strange” indeed. mitt looked and acted like someone on speed or something. I definitely do not want this person as my president!!!!

  12. 26 Michele
    October 5, 2012 at 9:29 am

    This is why Obamabots have to continue to believe everyday and work hard for President Barack Obama’s re-election..

    President Obama gave his opponent rope to hang himself and Robney was on display like the failed jerk we all know. You don’t fuck with Big bird and Elmo and don’t get blowback.

  13. 27 hopefruit2
    October 5, 2012 at 9:30 am

    OMG…here’s a BRAND NEW WEB Ad from the Obama team which literally destroys Romney’s debate performance:

  14. 41 hopefruit2
    October 5, 2012 at 9:36 am

  15. October 5, 2012 at 9:36 am

    Revisions up From the last 2 months, not years! Right?

  16. 44 lamh35
    October 5, 2012 at 9:37 am

    so basically, politically speaking, despite Mittens debate “win”, with the unemployment numbers, the $150 mill fundraising haul, the. jobs number, and the EC dominance, Obama STILL wins the news cycle!!! KARMA’s a bitch ain’t it!

    Once again proving that the media narrative means shit when real world truth happens.

    too bad for Mitt supporters, they weren’t even allowed 48hr to crow. I suspect that Romney’s first debate performance will be something for the to cling to.

  17. 46 Bill R.
    October 5, 2012 at 9:38 am

    Great news! I had an intuition that this report would be a good one!

  18. 47 amk for obama
    October 5, 2012 at 9:38 am

    Chips. You’re indeed a mind reading goddess. I was b&m’ing in last thread why that bikini colors aren’t in red & blue reading from left to right. And wham. :)

  19. 49 Ann_T
    October 5, 2012 at 9:43 am

    I know that RWNJs are shocked! They were hoping for the rate to go up again and continue to push Myth Romney on the undecided. Well too bad! PBO & his administration have been busy working for the American people instead of obstructing anything positive for the country. I remember how much the MSM jumped on the low number last month. Well it was wrong and was adjusted up! Thank goodness! :)

  20. 50 Linda
    October 5, 2012 at 9:44 am

    I hope the 1-20-2009 dinner crowd heads explode…

  21. October 5, 2012 at 9:45 am

    7.8% bitches!!!

    hee hee hee

  22. 54 Vicki Green
    October 5, 2012 at 9:49 am

    Time for the happy dance, TOD!

  23. 56 Michele
    October 5, 2012 at 9:53 am

    Chips, can you feature that part in Michelle Obama’s speech in which she said while we as Dems are always hand wringing and sweating it her husband is always looking at the long game……

  24. 57 japa21
    October 5, 2012 at 9:54 am

    Good news all around. With the adjustments for the past 2 months, this comes out to 200,000 new jobs. With the report earlier of the extra 386,000 new jobs from last year, this puts Obama well over the number of employed when he became President. If, using Romney’s own statement that you can’t hold the first six months against a new President, then Obama’s administration has overseen a couple million increase.
    Also, the drop in the UE is not, as some on the right might try to say, because of discouraged workers, because it shows over 400,000 more people in the workforce or looking for work.

    Plus, I expect next month’s report, just before the election, to revise this month’s upward.

    Plus, there was an uptick in public sector employment.

    Plus, looking back at the debate, it is obvious that all the lines that can be used against either of the candidates came from Romney. The Big Bird is the most obvious, but also the “new accountant” line which basically admitted he had sent jobs overseas. Plus others.

  25. 58 utaustinliberal
    October 5, 2012 at 9:57 am

    The jobs numbers are even sweeter because some economists had predicted that it would tick up to 8.3% but instead it went down to 7.8% despite an increased labor force participation from last month.

  26. October 5, 2012 at 9:59 am

    President Obama is going to have so much fun a this year’s Alfred E. Smith Memorial Foundation Dinner, Thursday, October 18.

    Mark your calendars, TODers. This is going to be a blast!

  27. 67 amk for obama
    October 5, 2012 at 10:00 am

  28. 68 amk for obama
    October 5, 2012 at 10:01 am

  29. 69 lamh35
    October 5, 2012 at 10:04 am

    BTW, Romneys reaction via TPM to unemployment/job numbers… “this is not what a real recovery looks like”. umm ok Mitt

  30. 71 Linda
    October 5, 2012 at 10:05 am

    From Heidi Shierholz, economist at the Economic Policy Institute:

    This is one of those months where the two surveys are telling somewhat different stories. The establishment survey (which provides the job count) shows the kind of steady but modest growth we’ve been seeing for the last two-and-a-half years – job growth that is basically just enough to keep up with growth in the potential workforce.

    On the other hand, the household survey (which provides the unemployment rate) was extremely positive, with a substantial drop in the unemployment rate (and furthermore, that drop was due to people getting jobs, not leaving the labor force). The rule of thumb when the two surveys tell different stories is to go with what the establishment survey says. However, the household survey provides reasons to be somewhat more optimistic about job opportunities for American workers.

  31. 72 desertflower
    October 5, 2012 at 10:05 am

    http://thinkprogress.org/election/2012/10/05/966031/campaign-surrogate-admits-romney-is-changing-positions-just-to-win-votes/

    And in other news…Boner says jobs numbers are nice, but it’s not happening FAST ENOUGH. Really fuckwad? I wonder what they would have been like if your RWNJ’s in congress hadn’t blocked everything!! Get rid of these guys…I’m tired of hearing their BS!

    • October 5, 2012 at 10:15 am

      If we through all the Republicans in Jail, the Country would be better off!
      Just sayin.

      • 74 amk for obama
        October 5, 2012 at 10:18 am

        I know, I know just the place. Gitmo. That’s where you put the terrorists whom you don’t want in your own backyard, right ?

        • 75 Pamela
          October 5, 2012 at 11:00 am

          We would still be payng for their upkeep, and no doubt they would demand private suites, laptops and as much food and booze as they want. Their ‘rights’ as American citizens, yeah?

    • 76 99ts
      October 5, 2012 at 10:16 am

      Boner is devastated because his plans to get to 10% unemployment have failed.

    • 77 Linda
      October 5, 2012 at 10:17 am

      Yuk…Gingrey….. I think he is the one that took Newt’s place here in GA…and keeps trying to shove the F- 35 down the throats of the DOD when they don’t want it or need it.

  32. October 5, 2012 at 10:06 am
  33. October 5, 2012 at 10:10 am

    Just as I expected, Ralph Nader is on.
    He is whispering in the Ears of Sanders and Shultz, and now he is on MSNBainC.
    Of course.
    Well, I called that one. LOL!

  34. 82 amk for obama
    October 5, 2012 at 10:11 am

  35. 83 amk for obama
    October 5, 2012 at 10:12 am

  36. 84 sherijr
    October 5, 2012 at 10:16 am

    WooHoo – happy news all around today! Proud of our President as usual.. & look at these amazing crowds- the American people know whats up. On personal news.. I received my ballot in the mail last night- on my Birthday :) and will be marking it solidly for Pres Obama & VP Biden & a straight Dem ticket & mailing it off today. Yes I’m stillll in ND- but am so grateful I’m going to get to Vote.

  37. October 5, 2012 at 10:16 am

    Morning in America…

  38. 108 utaustinliberal
    October 5, 2012 at 10:18 am

    ZING!

  39. 111 99ts
    October 5, 2012 at 10:27 am

    Protect Big Oil, Fire Big Bird

  40. 113 criquet
    October 5, 2012 at 11:09 am

    People are catching on, lol :


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