Unemployment plummets on the back of job creation.

[Skjellyfetti]

The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years and giving President Barack Obama a potential boost with the election a month away.

The rate declined from 8.1 percent because the number of people who said they were employed soared by 873,000 — an encouraging sign for an economy that's been struggling to create enough jobs.

The number of unemployed Americans is now 12.1 million, the fewest since January 2009.

The Labor Department said employers added 114,000 jobs in September. It also said the economy created 86,000 more jobs in July and August than the department had initially 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 job market has been improving, sluggishly but steadily. Jobs have been added for 24 straight months. There are now 325,000 more than when Obama took office.

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[CitadelGrad]

[Gil Dobie]

From reading the title, I was expecting 3% unemployment.

[OL FU]

Just in time inventory changes to just in time statistics

[Chizzang]

Just in time inventory changes to just in time statistics

The US Business Machine has figured out (fairly quickly) that what 10 people used to do can now be done with 9 or even 8... and the desperation in the working classes is so intense people will work more hours for less money and effectively surrender their lives to keep their jobs

This cat is officially "out of the bag"

And guess what: We're not going back - and why would any company go back to the way it was - it's simply seen as over paying and under working your staff now...

[Tod]

Just in time inventory changes to just in time statistics

The US Business Machine has figured out (fairly quickly) that what 10 people used to do can now be done with 9 or even 8... and the desperation in the working classes is so intense people will work more hours for less money and effectively surrender their lives to keep their jobs

This cat is officially "out of the bag"

And guess what: We're not going back - and why would any company go back to the way it was - it's simply seen as over paying and under working your staff now...

Yup. Might as well fight this problem by raising the retirement age, crushing unions, eliminating the minimum wage and weakening or eliminating the safety net. That ought to help.

[CitadelGrad]

Just in time inventory changes to just in time statistics

The US Business Machine has figured out (fairly quickly) that what 10 people used to do can now be done with 9 or even 8... and the desperation in the working classes is so intense people will work more hours for less money and effectively surrender their lives to keep their jobs

This cat is officially "out of the bag"

And guess what: We're not going back - and why would any company go back to the way it was - it's simply seen as over paying and under working your staff now...

It's called productivity. It's one reason why inflation is relatively low despite the debasement of the dollar and quantitative easing.

[JohnStOnge]

The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years and giving President Barack Obama a potential boost with the election a month away.

The rate declined from 8.1 percent because the number of people who said they were employed soared by 873,000 — an encouraging sign for an economy that's been struggling to create enough jobs.

The number of unemployed Americans is now 12.1 million, the fewest since January 2009.

The Labor Department said employers added 114,000 jobs in September.

I'm glad you posted that because it lets me see what people were talking about in the panel discussion I described in another thread. They said that the results of the jobs added survey and the results of the unemployment rate survey contradicted each other. And I think you can see that. An estimated 873,000 people additional people said they were employed yet employers said they only added 114,000 jobs.

I think the unemployment rate survey considers people who decide to be self employed to be employed so that could account for some of the discrepancy.

But I do remember hearing at some point this week that a higher unemployment rate was expected because the number of jobs added wasn't high enough.

[OL FU]

Just in time inventory changes to just in time statistics

The US Business Machine has figured out (fairly quickly) that what 10 people used to do can now be done with 9 or even 8... and the desperation in the working classes is so intense people will work more hours for less money and effectively surrender their lives to keep their jobs

This cat is officially "out of the bag"

And guess what: We're not going back - and why would any company go back to the way it was - it's simply seen as over paying and under working your staff now...

Really, was my smart ass comment worth all that

BTW the I miss you chizzang.

[Chizzang]

The US Business Machine has figured out (fairly quickly) that what 10 people used to do can now be done with 9 or even 8... and the desperation in the working classes is so intense people will work more hours for less money and effectively surrender their lives to keep their jobs

This cat is officially "out of the bag"

And guess what: We're not going back - and why would any company go back to the way it was - it's simply seen as over paying and under working your staff now...

Really, was my smart ass comment worth all that

BTW the I miss you chizzang.

I got you on Speed Dial brother
(and you work too much dammit)

[Cap'n Cat]

From reading the title, I was expecting 3% unemployment.

That's because you have no perspective, you dork.

[BlueHen86]

From reading the title, I was expecting 3% unemployment.

That's because you have no perspective, you dork.

I'm surprised he was able to read the title.

[BlueHen86]

What are you trying to say here? I thought Republicans believed in creation.

[kalm]

The US Business Machine has figured out (fairly quickly) that what 10 people used to do can now be done with 9 or even 8... and the desperation in the working classes is so intense people will work more hours for less money and effectively surrender their lives to keep their jobs

This cat is officially "out of the bag"

And guess what: We're not going back - and why would any company go back to the way it was - it's simply seen as over paying and under working your staff now...

It's called productivity. It's one reason why inflation is relatively low despite the debasement of the dollar and quantitative easing.

Thank God wages have followed productivity.

[kalm]

The US Business Machine has figured out (fairly quickly) that what 10 people used to do can now be done with 9 or even 8... and the desperation in the working classes is so intense people will work more hours for less money and effectively surrender their lives to keep their jobs

This cat is officially "out of the bag"

And guess what: We're not going back - and why would any company go back to the way it was - it's simply seen as over paying and under working your staff now...

It's called productivity. It's one reason why inflation is relatively low despite the debasement of the dollar and quantitative easing.

Thank God wages have followed productivity.

[BlueHen86]

It's called productivity. It's one reason why inflation is relatively low despite the debasement of the dollar and quantitative easing.

Thank God wages have followed productivity.

You can say that again!

[houndawg]

From reading the title, I was expecting 3% unemployment.

That would be a disaster. Wages would rise.

[death dealer]

Yet the real unemployment rate remained the same. In other words, the same number of people out of work, just not as many reporting/seeking employment. Even more people have given up on finding a job.

And the 873,000 number is an extrapolation from a smaller sample. They didn't actually ask several million people if they were employed and have 873,000 more than last time say yes. Its a very unreliable number and will be revised several times, and even then won't be right.

[BisonMav]

In the 1980's we had Ronald Reagan, Johnny Cash and Bob Hope, now we have Obama, no Cash and no Hope.

[SuperHornet]

What jobs, Jelly? They're certainly not around here.

A national unemployment statistic is utterly worthless. Regional and/or industry unemployment stats would tell a better story. It's certainly not a rosy picture for admin specialists who live in Cali. I'll tell you that first hand.

[CitadelGrad]

In the 1980's we had Ronald Reagan, Johnny Cash and Bob Hope, now we have Obama, no Cash and no Hope.

No Steve Jobs either. Let's hope that Kevin Bacon doesn't die.

[SDHornet]

What jobs, Jelly? They're certainly not around here.

A national unemployment statistic is utterly worthless. Regional and/or industry unemployment stats would tell a better story. It's certainly not a rosy picture for admin specialists who live in Cali. I'll tell you that first hand.

Don't worry, the CA job outlook will only get better if the sales tax initiatives get passed this Nov.

[D1B]

What jobs, Jelly? They're certainly not around here.

A national unemployment statistic is utterly worthless. Regional and/or industry unemployment stats would tell a better story. It's certainly not a rosy picture for admin specialists who live in Cali. I'll tell you that first hand.

It's you. Any willing white man can find a job in America.

You should hire a job coach.

[Chizzang]

What jobs, Jelly? They're certainly not around here.

A national unemployment statistic is utterly worthless. Regional and/or industry unemployment stats would tell a better story. It's certainly not a rosy picture for admin specialists who live in Cali. I'll tell you that first hand.

What that hell is an "Admin Specialist"..?
That sounds like paper shuffling bloated middle management pyramidal layers of red tape
That the corporate leaders of America have seen fit to rid themselves of to increase profitability

You my friend are officially fucked
That crap is never coming back - only in our Federal Government do we have such additional layers of "Admin Specialists" milling about bogging down the expediency of daily business

American business today has eliminated much of that fluff
We are easily 15% leaner than we were 4 years ago

Good luck

[89Hen]

Actually heard a clip of Obama on trail yesterday talking about needing change. How stupid is he?

Maybe we should get us some of that reform.

[youtube]http://www.youtube.com/watch?v=B-5ondb23tI[/youtube]