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Unemployment Rate Falls To Lowest In Four Years

Americans, with the possible exception of everyone associated with Gov. Mitt Romney's presidential campaign, had one, simple word cross their minds this morning as the September jobs report flashed across the mediawaves:


Our little economic engine that sometimes can is making its way up the mountainside and could be gaining momentum. The September jobs report says U.S. employers added 114,000 jobs, which isn't the million jobs we need right away but it's on the right track. The unemployment rate is now 7.8%, the lowest in almost four years!

But wait, it gets better because summer job growth has been revised up. Yay! Here's the official BLS September jobs report.

I've said many times that we're still in recession (even though technically we're not anymore), but I'm really talking about how it feels like we're still in recession because recessions affect our mindsets as much as they affect our pocketbooks. We shouldn't underestimate the psychological effect of crossing the 8% unemployment barrier for the first time in four years. A good jobs report boosts our national mood, sort of like taking a St. John's Wort tablet on a bleak, dark January day. For Gov. Romney, that bleak, dark day just might be January 20th if these good job reports keep up. Okay, I'm off to do my Nathan J. Barnatt-inspired happy dance for the rest of the day. Have a great weekend, everyone!


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