I wouldn't exactly call it "falling." - Get serious. :)) (sm)

Well 3 ticks down in one month is not shabby. - VTMT

Wasn't it 7.8 when he took office? - LM

Yes it was; and, between Jan '08 and Jan '09....sm - VTMT

Oh, here we go - we're talking about Obama, - not Bush.

We are talking about the unemployment rate. nm - VTMT

So tell us what it was when Grover Cleveland was - President.

This is GOOD. Our economy is steadily recovering. - Do not wish ill on us. NM

It's the SAME as it was when he took office. - We're treading water. Don't you get it?

Unemployment.... - crs

Did you know that your candidate (sm) - nm

Wait after election when thousands and thousands - will be laid off from military.NM

She didn't wish ill on anyone, and - our economy is not recovering

Looking at the numbers.... - SK1

Some will dismiss this information because of it's source, but it makes sense....

Unemployment dropped to 7.8 percent in September and 114,000 jobs were created, according to the U.S. Bureau of Labor Statistics today. Much of the drop in the jobless rate was accounted for by revisions to past job numbers, not by new jobs created in September. 

As both CNN and MSNBC reported immediately after this morning's release, these numbers fail to keep up with population growth--so the U.S. economy continues to tread water.

The job numbers met market expectations as the jobless rate dipped below 8 percent for the first time since the beginning of President Barack Obama's term in office. Job numbers were revised upward by 86,000 for July and August, providing the main impetus for lowering the overall unemployment rate.

Had labor force participation remained the same as it was when Obama took office, the jobless rate would be 10.7% today.

The September gains came in health care, transportation, and warehousing, with jobs little changed in other areas, according to the federal government.

Stock futures had risen--a sign of how standards have shifted--in anticipation of a rise in unemployment from 8.1 to 8.2 percent, with 111,000 to 113,000 jobs created. 

Mainstream media analysts, looking for information favorable to the re-election prospects of President Barack Obama, had set the bar even lower, saying that a job creation figure of 100,000 would be considered a success, even though that is below the level needed to keep up with population growth, and well below the average of 139,000 for 2012 and 153,000 for 2011.

Other indicators had presented a murky picture, with weekly jobless claims rising and moderate private sector payroll growth of 162,000 that underperformed last month's numbers but beat expectations.

The September jobs report is the second-to-last of the highly-anticipated reports to be released during the 2012 presidential election. Each campaign spins the reports to its advantage--Obama touting a record of steady if modest private sector job creation, and challenger Mitt Romney pointing to the low overall numbers and high jobless rate. 

In that regard, Obama has been assisted by the mainstream media, which tend to tout any number--even a poor number--that beats market expectations as a "really good" jobs report.

Over time, the campaigns have settled into two broad narratives--Obama arguing that the recession could have been worse and the recovery will soon take off, Romney arguing that Obama failed to deliver and that his policies are the obstacle to economic progress.

The September jobs report likely comes too late to change those overall storylines, but may provide a boost to Obama as he makes his closing arguments in the final month of the campaign.

It's not a good report, by any means, but probably a good report for Obama.

Real number 14.7% - SK1

For those who don't trust anything Breitbart says.....

(Bolding mine for emphasis)

Job growth remained tame in September, with the economy creating just 114,000 net new positions though the unemployment rate fell to 7.8 percent, the first time it has been below 8 percent in 43 months.

The report presented a slew of contradictory data points, with the total employment level soaring despite the low net number.

 The falling jobless rate had been a function as much of the continued shrinking in the labor force as it was an increase in new positions.

 But the government said the total number of workers employed surged by 873,000, the highest one-month jump in 29 years. The total of unemployed people tumbled by 456,000.

 The total labor force grew by 418,000, possibly accounting for the relatively modest net level of job growth compared to the total employed. The labor force participation rate, which reflects those working as well as looking for work, edged higher to 63.6 percent but remained around 30-year lows.

"You have to be careful, particularly about components of the household numbers that are highly volatile," said Liz Ann Sonders, chief investment strategist at Charles Schwab in San Francisco. "It's been our view that we would see a slow but consistent improvement in the jobs picture. I'm not sure this changes that view much at all."

Economists were expecting 113,000 more jobs and the rate to rise to 8.2 percent. Last month saw 142,000 new jobs as the rate dropped from 8.3 percent in July.

However, those numbers were revised higher, with the Labor Department putting July's number at 181,000 from the previously reported 141,000 and August up from an originally reported 96,000.

The level of part-time workers reported the largest jump for the month, gaining 582,000.

Jack Welch, the former CEO of General Electric [GE  23.095    0.145  (+0.63%)   ], caused a stir after the numbers were released, tweeting "Unbelievable jobs numbers...these Chicago guys will do anything...can't debate so change numbers."

The U-6 unemployment number, which accounts for the underemployed and those who have given up looking for jobs, held steady at 14.7 percent.

"With a gain of 114,000 jobs in September and an upward revision for August, this economy remains on a slow but not slowing growth path," said Kathy Bostjancic, director of macroeconomic analysis at The Conference Board. "Right now, slow job and income growth is about all the economy is capable of generating as businesses remain focused on cutting costs."

With President Obama trying to stave off a challenge from Republican Mitt Romney, the state of the economy remains the critical point. Friday's report underscored how slowly the jobs market is recovering from the depths of the 2008 financial crisis and likely will stoke increased debate amid the halting gains the latest numbers indicate.

 While the headline unemployment rate number likely will be something the president touts on the campaign trail, few on Wall Street expected it to be a game-changer relative to the overall jobs picture.

"When you look at the payrolls numbers, they are bumping along where we have been around this 100,000 level, which is not enough to consistently reduce the unemployment rate," said Lee Ferridge, head of macro strategy for North America at State Street Global Markets. "The overall message is one of plodding along. It's OK, it's not disastrous, but it's nowhere near where the Fed wants it to be."

Wall Street reacted positively to the report, with the stock market futures modestly higher after the report.

Health care added the most jobs, with 44,000, while transportation and warehousing grew 17,000. Financial services added 13,000 as well.

The greatest losses came in manufacturing, which fell 16,000.

The closely watched average work week metric edged higher to 34.5 hours while average hourly earnings increased seven cents to $19.81.

See, I don't understand people who are so quick to tear apart good news. - Seems unpatritoic to me.

Just keeping it real. - SK1

Republicans: "No news is good news", especially...sm - VTMT

Romney is ahead in Ohio. - You like that? Can't blame you if you don

I'm not a Republican.... - SK1

It is good news, especially just before - the military layoffs and fed workers.NM

Bad news! This just means more people have given up - now they're probably on welfare and food stam

and are encouraged to do so by this - lousy administration.

You know, I read the fox TPM issue this morning - and

But did you read what happened at this jobs fair?(sm) - Aunt Sue

I don't need you or Fox telling me - what happens at jobs fairs

Wouldn't know. With my skills, I've never had - to go to one.

I think maybe you do.They apply for food stamps at this one.(sm) - Aunt Sue

I thought Megan Kelly said some didn't even fill - out applications for jobs.

CNBC calls it "fuzzy math." Obama manipulating - the numbers.

Do you understand how this works? More people out of the - workforce.

But new claims are up again. This should tell you - that you are misunderstanding unemployment stats.