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Unemployment Rate Falls To 7.8 Percent, A 44-Month Low  Analysts
and Wall Street types rejoiced today as the Bureau of Labor
Statistics announced that the unemployment rate has dropped
below 8 percent for the first time in almost four years and that
the economy added 114,000 jobs.  The increase is the smallest in
three months but it was enough to lower the unemployment rate
from the 8.1-8.3 percent rate it was hovering at for the first
eight months of the year.  Now, it’s not all good news. The
number of people “working part-time for economic reasons” (a
fancy way for the BLS to describe underemployed people who would
rather have a full-time job) rose from 8 million in August to
8.6 million in September. And the number of people not working
but not counted as unemployed remained steady at 2.5
million–that includes people who dropped out of the workforce
for school or family responsibilities, but also includes 802,000
people who just gave up looking