114,000 New Jobs; Unemployment to 7.8%

The entire drop in the unemployment rate can be attributed to a surprise rise of 582,000 in part-time workers. U-6 unemployment remained at 14.7%. U-6 includes part-time workers who want a full-time job.

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.8 million and accounted for 40.1 percent of the unemployed. After 26 weeks unemployment compensation must be paid by taxpayers. The Obama administration has raised the limit to 99 weeks. Many go on Social Security Disability after the 99 weeks further weakening Social Security's future solvency.