Unemployment Rate Drops to 7.8 Percent; 114,000 Jobs Added to Payrolls
The nation’s unemployment rate fell below to 7.8 percent in September from 8.1 percent in August even though just 114,000 jobs were added to private and public payrolls, the Bureau of Labor Statistics reports.
We’ll have more from the report, as well as reactions to it, shortly. As we said Thursday, this news is sure to be a hot topic on the campaign trail.
Update at 8:35 a.m. ET. First Time Below 8 Percent Since January 2009:
At 7.8 percent, the jobless rate is back where it was in January 2009 and is below 8 percent for the first time since President Obama was sworn in that month.