cbs4 My 33 Header Logo

Local

National Unemployment Drops To 7.8%

View Comments
Economy_unemployment_jobless
Tim Kephart

Reporting Tim Kephart

Election Returns
CAMPAIGN 2012

WASHINGTON (CBSMiami) – The U.S. unemployment rate fell in September to the lowest rate since President Barack Obama’s first month in office. The Labor Department reported Friday the unemployment dropped to 7.8 percent primarily because more people found jobs.

Overall, the Labor Department said employers added 114,000 jobs in September. Additionally, the July and August jobs numbers were revised higher by 86,000. The revised numbers showed employers added 146,000 jobs from July through September, up from 67,000 in the previous three months.

While recent drops in the unemployment rate have been attributed to the workforce shrinking, the September report indicated a 418,000 person increase in labor force participation, according to TalkingPointsMemo.com.

The job market has been slowly recovering from the economic collapse of 2007-2009. Jobs have been added for 24 straight months and overall, no matter from what date you measure Obama’s jobs numbers, he is in positive territory.

According to the Labor Department, the September numbers were led by the health care industry, followed by transportation and warehousing. The numbers also showed governments added 63,000 jobs in July and August, which had earlier been estimated to show losses.

But, as with any jobs report, the problem is seeing how many of the jobs are part-time versus full-time. The state of Florida doesn’t track whether a job is full-time with benefits or a part-time job. The Labor Department said the number of people with part-time jobs who wanted full-time jobs was 8.6 million.

The numbers come at a good time for President Barack Obama and undercut an attack used by Republicans against him about unemployment remaining above 8 percent.

For his part, Mitt Romney took about half an hour, longer than usual, to respond to the jobs report. Romney said “This is not what a real recovery looks like.” Romney also reiterated that his policies will create 12 million jobs over the next four year, which is what economists expect will happen regardless of who is president.

Florida’s unemployment numbers for September will be released in a a few weeks.

View Comments
blog comments powered by Disqus
Listen Live!

CBS Miami Sections

Shopping Around South Florida

Rockefeller Tree
Best Shopping Centers & Malls
From Sawgrass Mills to the Falls, these are your best bets for malls.
 Tis The Season
Best South Florida Thrift Stores
Malls too expensive? Check out the bargains and be thrifty.
 Tis The Season
Best Swimsuit Shops In Miami
It’s South Florida, you have to have the perfect look for the beach!
 Shopping Around South Florida
Best Small Boutique With Big Fashion
The perfect place to find high fashion in a small store.