Unemployment Falls to 7.8% in September

And more jobs were added in July and August than first reported

   

The Department of Labor announced on Thursday morning that the U.S. economy added 114,000 non-farm jobs in September. It also said the unemployment rate dropped from 8.1% in August, to 7.8% last month as more people entered the workforce and more people found jobs, marking the first time unemployment has fallen below 8% since February 2009, CBS News noted.

Previous jobs figures for July and August were revised upward. The government now says 86,000 more jobs were created during those months than originally estimated.

jobless unemployment 630 200x200 Unemployment Falls to 7.8% in September
Jobs Report May Force Bernanke’s Hand

While the economy added jobs last month, more of those were for part-time positions. People with part-time jobs who were searching for full-time employment rose to 8.6 million, up 7.5%.

The health care sector added the most jobs last month, with transportation and warehousing also posting solid increases.

More government jobs were filled in recent months as well. The Labor Department said governments at all levels added 63,000 workers in July and August. That reversed previous reports that showed a contraction in government jobs.

A lowered unemployment rate could be a boost for President Obama’s reelection prospects.


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/unemployment-falls-to-7-8-in-september/.

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