More Americans are finding jobs and unemployment is down. That's the latest from a government report. The labor department says the economy added 114,000 jobs in September and unemployment fell to 7.8% down from 8.1%.
The numbers gave the president a boost during campaigning today, but Mitt Romney is not impressed.
“Even those who have jobs are having tough times, the middle class is being squeezed with higher costs and incomes that have gone down.”
No president has been re-elected with unemployment above 8% since the great depression. The next jobs report comes out just days before the election.
Initial claims for unemployment drop
BATON ROUGE, La. (AP) – Initial claims for unemployment insurance in Louisiana fell for the week ending Sept. 29.
Figures released Friday show initial claims decreased to 2,831 from the previous week's total of 3,294. The claims were below the 3,236 filed in the comparable week ending Oct. 1, 2011.
The four-week moving average, a less volatile measurement, increased to 5,005 from the previous week's average of 4,884.
Continued unemployment weeks claimed for the week ending Sept. 29 decreased to 31,883, compared to the previous week's 32,768. The four-week moving average for such claims increased to 32,501 from the previous week's 32,409.