The left finds it simply mahvellous that unemployment is dropping so precipitously, and just in time to distract from the debates, too. The right is suspicious, both on account of the timing, which I'll grand could happen, but also on account of some other things that just don't add up.
Remember that in a normal economy in this country it takes some 150,000 new jobs a month just to keep the rate from moving one way or another. Last months job creation number was 114,000, which all else being equal would result in 35,000 more people out of work. The last time the rate went down, from 8.2 to 8.1, the reason was a drop in workforce participation.This time the BLS is actually reporting an infinitesimal rise in that number from 63.5% 60 63.6%. This suggests more people looking for jobs to go with not enough jobs being created.
In the past these two factors have caused unemployment rates to rise at the beginning of a recovery as people rejoin the work force seeking to rejoin the ranks of the employed. Were the books cooked again? I could believe that a plausible explanation will emerge shortly before the next debate.