U.S. Unemployment Falls Below 8 Percent
The national unemployment rate fell to 7.8 percent September, the U.S. Bureau of Labor Statistics (BLS) said in its latest report. It's the first time it dropped below 8 percent in nearly four years.
The September number reflects a 0.3 percent decrease from the August rate of 8.1 percent. The last time the rate was this low was January 2009. In 2012, it has stayed within the range of 8.1 percent and 8.3 percent, according to the BLS.
Included in the change was the addition of 114,000 jobs to the economy in health care, transportation and warehousing, but employment levels in other sectors were little changed, according to the BLS.
At the same time, the number of workers employed part-time because their jobs had been cut back, or they were unable to find full-time employment rose from 8 million in August to 8.6 million in September, and the number of people unable to find employment stayed flat, year over year in September at 2.5 million.
Despite the gains, the number of jobs added last month lagged the average monthly growth rate for the year of 146,000, the BLS said.
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