September U.S. jobs up 114,000; jobles rate 7.8% - MarketWatch

September U.S. jobs up 114,000; jobles rate 7.8% - MarketWatch

 The U.S. economy generated a lackluster 114,000 jobs in September, but the unemployment rate fell to 7.8% from 8.1%, the lowest level since January 2009, the government said Friday. Economists surveyed by MarketWatch expected a 110,000 increase in jobs, based on the Labor Department's survey of businesses. The unemployment rate, which is drawn from a separate survey of households, was forecast to tick up to 8.2% from 8.1%. Yet the jobless rate fell sharply after the biggest increase in employment as measured by the household survey since 1983. Some 873,000 people in the household survey said they found jobs. Employment gains for August and July, meanwhile, were revised higher by a combined 86,000. The number of new jobs created in August was revised up to 142,000 from an original estimate of 96,000. July's figure was revised up to 181,000 from 141,000. In September, a.verage hourly wages rose 7 cents, or 0.4%, to $23.58. The average workweek edged up 0.1 hour to 34.5. 

7.8% HA HA HA HA HA!  And coincidentally, this bodes will for Obama. Pay no attention to the 47% sitting behind the curtain.

Can someone walk me through how 114K net plus 86k for the last two months revisions can drop the UE rate by .4%???  What did I miss here? It's not adding up in my simple mind.... Is anybody watching that massive spike in WTI crude oil?!  From $90.50 - $91.71 in seconds!