Jobless rate drops to 7.8 percent; economy adds 114,000 jobs

 

By Vicki Needham – 10/05/12 10:28 AM ET

The unemployment rate dipped below 8 percent in September, to 7.8 percent, shaking up estimations of the presidential race and providing welcome news for President Obama just a month before Election Day.

The economy added only 114,00 jobs, yet the unemployment rate still dropped from 8.1 percent to 7.8.

Total employment rose by 873,000 in September, a significant jump that could help explain the drop in the unemployment rate.

The report revised figures up in July and August, and it showed more people are now entering the workforce. This is also the first report to be released since the Bureau of Labor Statistics announced it had undercounted employment for the previous year by 386,000. Continue reading “Jobless rate drops to 7.8 percent; economy adds 114,000 jobs”

Sequestration Cuts To Be Detailed in Report to Congress

Added 09/11/2012 – 10:28 by Kyra Kozemchak Expert

Originally published for Federal Industry Analysis: Analysts Perspectives Blog. Stay ahead of the competition by discovering more about GovWin IQ.

Following President Obama signing the “Sequestration Transparency Act” (H.R. 5872) last month, the Office of Management and Budget (OMB) is due to provide sequestration specifics in a report to Congress by September 6, 2012. The report is due to list every program and activity across the federal government that will be subject to funding cuts. With the end of the current fiscal year approaching, agencies and contractors are eager for any additional insight into what next year may have in store. Continue reading “Sequestration Cuts To Be Detailed in Report to Congress”

Economy adds 96K jobs, unemployment rate falls to 8.1 percent

By Vicki Needham – 09/07/12 08:31 AM ET

The economy added 96,000 jobs in August, falling well short of expectations and dealing a blow to President Obama as he heads out Friday on a three-state campaign swing.

The figure is a buzz kill for Democrats after a rousing week at their party convention and shows the labor market is still struggling as the economy goes through another summer slowdown.

The unemployment rate fell to 8.1 percent from 8.3 percent, according to the Bureau for Labor Statistics.  Continue reading “Economy adds 96K jobs, unemployment rate falls to 8.1 percent”