Salient to Investors:
Alan Krueger of the White House Council of Economic Advisers said the falling jobless rate shows the economy is continuing to heal.
Alan Abramowitz at Emory University said the unemployment drop to under 8 percent is symbolically important to voters and dominate news coverage for several days and blunt Romney’s debate momentum. Abramowitz forecasts a 67 percent probability Obama will be re-elected.
The trajectory of the economy historically has exerted the greatest influence on voters.
Unemployment among whites with bachelor’s degrees was 3.7 percent in September, less than half the national average, 6.3 percent among whites with some college education or with an associate’s degree from a community college, down from 8.8 percent two years ago. Steven Jarding at Harvard said these overlooked statistics explain a lot, and voters with at least some college education haven’t necessarily prospered but are doing OK.