Each month the BLS releases the results of two surveys, the Business Survey and the Household Survey.
September Business Survey - only 114,000 new jobs created. This low number SUCKS! We need about 175,000 new jobs per month just to keep up with population increases.
September Household Survey - 873,000 Americans said they were working but 582,000 of that 873,000 (66%) are working only part time. This number sucks even worse than the 114,000 new September jobs in the business survey. So 66% of the .3% reduction in the UE rate down to 7.8% was due entirely to part time jobs.
Overall, a bad report for Obama.
Wall Street was up at the opening yesterday after the BLS report was released and going strong until the analysts there read the details of the part time jobs in the Household Survey and then the market started going down and ended up closing flat.