Varney on Positive New Jobs Report: There is 'Widespread Mistrust' in These Numbers
Stuart Varney, host of Varney & Co. on Fox Business Network, was on America's Newsroom to give his take on the September jobs report, which turned out more positive than analysts expected.
The Labor Department said the
unemployment rate dropped to 7.8 percent last month, falling below 8 percent for the first time since January 2009. According to the report, employers added 114,000 jobs in September, while the economy also created 86,000 more jobs in July and August than earlier estimates indicated.
The report will likely be trumpeted by President Obama on the campaign trail as a sign of the economy improving.
Varney, however, says the initial reaction is "widespread mistrust" in the government's figures. He pointed to more people saying they've found part-time work as the reason for the lower unemployment rate.
Watch his full analysis: