Sound Off Glen Ellyn: Will Jobs Report Help Obama?

National figures released Friday show the lowest unemployment rate in nearly four years.

The nation's unemployment rate fell to 7.8 percent in September, its lowest level in nearly four years, according to figures released Friday.

High unemployment, and previous promises by President Barack Obama to keep the rate below 8 percent if the stimulus passed, have been repeated often on the campaign trail.

The next employment report is due just days before the November election, so these September figures may be the last jobs report with any impact on the election.

SO HERE'S THE QUESTION: Glen Ellyn, do you think this unemployment report helps President Obama secure re-election?

Share your thoughts in the comment section below.

According to the Illinois Department of Economic Security, the unemployment rate in the 11 out of 12 Chicago metro areas has declined compared with a year ago, falling 1.7 points to 8.8 percent in the Chicago-Naperville-Joliet area. Since last August, IDES also reports the Chicago-Naperville-Joliet area has seen a 1 percent increase in jobs, for a total of 35,000 new jobs. Economists suggest an ideal U.S. unemployment rate is between 4 and 6 percent.

Local editor Shannon Antinori contributed to this report.

Adam Krueger October 08, 2012 at 03:59 PM
The "unemployment" number is about as useful as a weather forecast 10 days out. Sure, it's a number, but it's not very valuable. There are several reasons why this latest unemployment number is misleading. #1) It doesn't account for the people who've decided to stop looking for a job altogether. Millions have stopped looking and are not counted among the unemployed. #2) The unemployment number reported widely by the media doesn't account for those people who are under-employed. Put another way, it doesn't account for those who are employed on a part-time basis but can't find full-time work. Additionally, labor-force participation remains at a 30-year low. #3) The unemployment number reported tells you nothing about individual industries. I work as a recruiter for engineers and I can tell you that the engineering unemployment number is about 1%. It's probably similar for most skilled industries -- most of the people who are unemployed are unskilled workers. I don't mean they are people without skills, I mean people who either a) don't have a degree or b) are factory-workers, service-sector workers, etc. There is a much better indicator of the unemployment numbers and that is the U6 unemployment figure which accounts for not only those can't find work, but also for those who can't find full-time work.
Adam Krueger October 08, 2012 at 04:01 PM
I guess that's all to say - no I don't think that it ultimately helps Obama -- it might help him among an uninformed folks, but anybody who knows better isn't fooled by this number.
Adam Krueger October 08, 2012 at 04:04 PM
I found a website that explains this unemployment situation much better than I just did - if you want to know what's up, check it out: http://www.policymic.com/articles/15983/u6-unemployment-rate-remains-above-14-percent-as-more-job-seekers-sadly-give-up-looking-for-work


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