September Employment Data

If you've managed to find your way to this post, you've no doubt already seen that the unemployment rate dipped fell below the 8% psychological barrier to 7.8% (from 8.1% the previous month).  This does not appear to the result of a people falling out of the job market.  According to the Department of Labor, 114,00 jobs were added in September and modest wage increases were seen.  Moreover, for the first time in long time, government payrolls actually increased.  And, perhaps most significant, the two previous months' job gains were revised upward by 88,000 jobs.

-JH