The Bureau of Labor Statistics released the jobs report for September today and it revealed that unemployment has fallen below 8 percent and that the economy fared better during July and August than was previously reported.
The Labor Department reported Friday that the unemployment rate fell to 7.8 percent in September, a decline of 0.3 percentage point and the lowest since January 2009. The government said the economy created 114,000 jobs, about as expected, and generated 86,000 more jobs in July and August than first estimated.
A survey of households from which the jobless rate is derived showed 873,000 job gains last month, the most since June 1983.
The number of jobs created in July was revised upward by 40,000 and the number of jobs created in August was revised upward by 46,000.
Meanwhile, the usual suspects are claiming conspiracy, alleging that the Labor Department cooked the books and conjured new jobs out of thin air.
According to them, this is a “Chicago style” jobs report. And to that I say, I’d like extra mustard on mine.