The hot topic right now, is  a fortuitous lower Unemployment Rate that miraculously appeared in yesterday’s Jobs Report.

Noel Sheppard of newsbusters.org has the story:

The unemployment rate decreased to 7.8 percent in September, a number certain to impact the presidential race.

Pundits have been saying for months this number had to drop below 8 percent for it not to be a hindrance to President Obama’s reelection chances.

The economy added 114,000 nonfarm payrolls in the month according to the Bureau of Labor Statistics with gains in healthcare, transportation and warehousing.

Truly shocking in the report was that the number of unemployed people dropped by 456,000 to 12.1 million.

Maybe more shocking, total employment, as measured by the Household Survey, rose by 873,000 in September to 142,974,000, the biggest one month jump since June 1983.

As such, total employment now stands at the highest level it’s been since December 2008 before Obama was inaugurated.

But even more mysterious is the divergence in the two surveys done by the Labor Department.

The Household Survey showed a gain of 873,000 people employed in September – resulting in the surprise drop in the unemployment rate – while the Establishment Survey only showed a rise of 114,000.

Here’s an interesting fact:

At least two economists at the Bureau of Labor Statistics (BLS) have contributed to President Barack Obama’s campaign. Harley Frazis of Bethesda, MD, has contributed at least $2,000 to Obama and $9,000 to the Democratic National Committee over the last three election cycles. During his time at BLS, Harley has published a number of papers including his most recent, “How to Think About Time-Use Data: What Inferences Can We Make About Long- and Short-Run Time Use from Time Diaries?”

Stephen Phillips of Washington, D.C., has contributed at least $270 to Obama during the 2012 cycle. According to his LinkedIn profile, Phillips served as an economist at BLS between June 2009 and July 2012. Phillips was responsible for examining the impact of Obamacare on Healthcare North American Industry Classification System indices. Phillips was also assistant coach for a girls’ high school tennis team in 2010.

To say that yesterday morning’s jobs report released by the Bureau of Labor Statistics is being met with skepticism is an understatement.

Labor Secretary Hilda Solis appeared on CNBC yesterday morning, where they actually asked her if the books were cooked.

Solis called the charges insulting and “ludicrous.”

Douglas Holtz-Eakin, a former economics adviser to John McCain and the former head the Congressional Budget Office, calls the numbers “implausible.”

“Sept. unemployment rate fell to 7.8 percent due to an extraordinary – but implausible – estimate of 873,000 #jobs in household survey,” said Holtz-Eakin on Twitter.

“The report presented a slew of contradictory data points, with the total employment level soaring despite the low net number,” said CNBC’s Jeff Cox.

The Washington Post’s Neil Irwin adds, “Weird that payrolls are exactly on forecast but household survey is far better.”

And the Wall Street Journal warns that these numbers should be taken “with a grain of salt.””The big jump in the household survey is certainly a welcome sign. But take this data with a grain of salt, especially considering the volatile reputation this data point holds,” writes the Wall Street Journal.

“No way in the world these numbers are accurate,” said Ed Butowsky of Chapwood Capital Investment on Fox Business. “Somebody needs to do an investigation. … Investigate these numbers.”

The Republican Candidate for President agrees.

“This is not what a real recovery looks like,” Mr. Romney said in a statement, pointing to what he said was a downward trend of job-creation. “We created fewer jobs in September than in August, and fewer jobs in August than in July, and we’ve lost over 600,000 manufacturing jobs since President Obama took office.”

The Bureau of Labor Statistics‘ key jobs survey said the economy added 114,000 new jobs in September, and BLS said the unemployment rate dipped to 7.8 percent — a drop of three-tenths of a percent.

That means the rate is now back down to what it was in January 2009, when Mr. Obama took office, inheriting a recession from President George W. Bush.

BLS also revised July and August job numbers upward by a combined 86,000, suggesting a slightly better jobs picture over the summer than was reported at the time.

The jobs news comes just two days after Mr. Romney seemed to be gaining momentum from a strong debate performance.

The Republican presidential nominee loses a major talking point from the campaign trail, where he regularly talked about the streak of consecutive months the unemployment rate had remained above 8 percent.

Mr. Romney on Friday said the jobs picture is still bleak — particularly because of the millions who have dropped out of the market altogether.

“If not for all the people who have simply dropped out of the labor force, the real unemployment rate would be closer to 11 percent,” Mr. Romney said in his statement. “The results of President Obama’s failed policies are staggering — 23 million Americans struggling for work, nearly one in six living in poverty, and 47 million people dependent on food stamps to feed themselves and their families. The choice in this election is clear. Under President Obama, we’ll get another four years like the last four years. If I’m elected, we will have a real recovery with pro-growth policies that will create 12 million new jobs and rising incomes for everyone.”

A Cleveland , Ohio businessman summed up America’s economic problems in one sentence:

Potus stopped to meet people waiting for him, where he did the requisite hand-shaking, high-fiving and the rare baby-holding before going on to chat with proprietors at Turczyk’s Meats and the adjoining Larry Vilstein’s, Christopher Bakery and Edward Badbuster & Son. He then asked the proprietor at Rolston Poultry how business was going. “Terrible since you got here,” the man said. Pool could not get close enough to the Rolston Poultry man to get his name or political affiliation. Potus didn’t appear amused by the sentiment.

Hang in there, sir. Things will get better after we throw the Manchurian President out of OUR house.

C’mon, November 6th!