Friday, October 5, 2012
FRSFreeState: AP: Mark Hamrick: US Jobless Rate Falls to 7.8 Pct., 44-Month Low: A New Threshold For the American Economy
I think you would have to say this is good news, over 100K jobs created in September, as students are. Going back to school, jobs up in transportation and in healthcare, we are finally under 8% unemployment for the first time since February, 2009, hard to believe thats almost four years ago. So we seem to be moving in the right direction, just very slowly, like trying to push a mule with a. Squirrel, it would be nice if we would get back to 2005-06, where we are growing at around 5-6% GDP and producing 200K jobs each month. But instead we are growing at a little over 1%, less Economic Growth then in 2011, yet are unemployment is falling, we've managed not to fall back into recession. So again like I've been blogging about for over a year now, we are headed in the right direction but we are still moving very slowly, like trying to drive cross country, when flying would. Be a lot faster, its hard to move an economy with 1% Economic Growth, we should be growing at three times that, then business's would be making a lot more money and feel the need to hire, which. Is how you get to 200K plus jobs each month and you see unemployment fall, not because people have given up working but because we have a high demand for goods and jobs in the economy. And we are simply not there right now.
As far as how this report effects the Presidential Election, we'll know how the debate effects it by Sunday. But this could dampen whatever bump that Mitt Romney might get, because now the President can say, things are not only better then they were in 2009 but we are making the type of progress. That can get the economy back in shape, with more people working, he can now already say that more jobs have been created since he's been President, then lost and now he can say we are finally. Under 8% unemployment for the first time in almost four years and people who are not sure who to vote for yet, may get the feeling that we are finally on the right course or at least moving. In that direction so I'll stick with President Obama and not move to Mitt Romney, even though the President looked like a bad debater or a tired man on Wednesday. But we'll see how the polls look on Sunday and Monday.