Unemployment Falls to a 44 Month Low
Posted at: 10/05/2012 7:48 AM
| Updated at: 10/05/2012 11:53 AM
WASHINGTON (AP) - The U.S. unemployment rate has fallen below 8 percent for the first time in nearly four years.
The Labor Department says the jobless rate fell to 7.8 percent last month as employers added 114,000 jobs.
The department also revised the numbers for July and August, saying the economy added more jobs than first estimated. The revisions show employers added 146,000 jobs per month from July through September, up from 67,000 in the previous three months.
The number of people who said they were employed soared by 873,000, while the number of unemployed Americans is 12.1 million, the fewest since January 2009.
The report also indicates that wages rose in September and more people started looking for work.
Jobs have been added for 24 straight months. There are now 325,000 more than when President Barack Obama took office.
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