Unemployment rate drops to 7.8%

The Bureau of Labor Statistics reported this morning that the U.S. unemployment rate dropped to 7.8% in September, the lowest since Obama took office.  The private sector added 104,000 jobs and state and local government added 10,000 jobs.  Additionally, job gains in July and August were better than first reported.  July job gains were 181,000 up 141,000 first reported.  August jobs gains were 142,000 vs. 96,000 as first reported.