US unemployment rate drops to 44- month low in September jobs report

From The Guardian UK:  http://www.guardian.co.uk/business/2012/oct/05/unemployment-rate-september-jobs-report

Unemployment falls to lowest rate of Obama’s presidency in major election boost as number of jobs added is revised upward

Associated Press in New York
guardian.co.uk, Friday 5 October 2012

The US unemployment rate fell to 7.8% last month, dropping below 8% for the first time in nearly four years. The rate declined because more people found work, a trend that could have an impact on undecided voters in the final month before the presidential election.

Both campaigns were watching the monthly reports closely, but neither appeared to react publicly in the first few minutes after Friday’s news.

The labor department said employers added 114,000 jobs in September. The economy also created 86,000 more jobs in July and August than first estimated. Wages rose in September and more people started looking for work.

The revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months.

The unemployment rate fell from 8.1% in August, matching its level in January 2009, when President Barack Obama took office.

The decline could help Obama, who is coming off a disappointing debate performance against Republican challenger Mitt Romney.

Continue reading at:  http://www.guardian.co.uk/business/2012/oct/05/unemployment-rate-september-jobs-report

See also:  Los Angeles Times:  Unemployment falls sharply to 7.8%, a 3 1/2-year low

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