Is anyone surprised? Anyone? Of course we knew the unemployment rate would be below 8% just prior to the election. I said it in this post last December – https://spellchek.wordpress.com/2011/12/03/whats-the-easiest-way-to-reduce-unemployment-stop-counting-people/
At any rate here is the story just released –http://finance.yahoo.com/news/us-jobless-rate-falls-7-123110416.html
And here is the link to the official Bureau of Labor Statistics report for Sept. 2012 – http://www.bls.gov/news.release/empsit.a.htm
There you’ll see that an additional 873,000 people were employed in September compared to August. That’s the highest one month jump in 29 years! Wow! A nearly three decade high just prior to an election! What you’ll find is a slew of contradictory numbers including a ‘surprising’ drop of those not in the labor force of 211,000 reversing an increase of 581,000 just one month prior.
What to make of it? Has the economy magically boomed since last month to get Obama his coveted sub 8% unemployment number just in time? I’m not buying.