7.8%: Great News for the President, Bad News for Romney

The U.S. unemployment rate dropped below 8 percent for the first time in nearly four years to 7.8 percent, matching its level in January 2009 when President Obama took office. According to the Labor Department employers added 114,000 jobs in September as wages rose. There were also an additional 86,000 jobs created in July and August than previously reported.

We can only guess what the impact of this jobs report on undecided voters in the final month before the presidential election will be. But, it doesn't look good for Romney.