Unemployment Rate falls to 7.8%

Originally posted by joe beyser
I am not sure if the people "marginally attached to the workforce" are considered. Once the unemployment benefits run out or someone is out of work but not on unemployment, they are not counted as unemployed. I don't think they have recently fudged the numbers any more now than they have in the last few years, but they government has hired a lot of folks and that is why they claim to have created so many new jobs.

The August numbers were attributed to that factor, however, under the revisions, apparently it's not the case. In two months the unemployment rate has dropped half a percentage point, which is huge really. It's because the cuts to public sector jobs have bottomed out.