Chris Cuomo
@ChrisCuomo
#unemployment is at 7.8% in September. Except it really wasn't. It is much higher, w/ underemplyd and those who stopped looking. #notfixed Adding to the mystery is the fact that the U-6, the longtime underemployment and unemployment number, remained fixed at a dismal 14.7%.
The unemployment rate declined by 0.3 percentage point to 7.8 percent in September. For the first 8 months of the year, the rate held within a narrow range of 8.1 and 8.3 percent. The number of unemployed persons, at 12.1 million, decreased by 456,000 in September.
The number of unemployed dropped 456,000 last month, while only 114,000 jobs got added. That either means that 342,000 people left the US, or they left the work force in one way or another.