Unemployment Rate Falls To 7.8% As Economy Creates 114,000 Jobs

Source: NBC News

The nation’s unemployment rate dropped to the lowest it has been in almost four years in September, giving President Barack Obama a potential upbeat talking point as the presidential race heads into the final innings.

The Labor Department reported Friday that the unemployment rate fell to 7.8 percent in September, a decline of 0.3 percentage point and the lowest since January 2009. The government said the economy created 114,000 jobs, about as expected, and generated 86,000 more jobs in July and August than first estimated.

A survey of households from which the jobless rate is derived showed 873,000 jobgains last month, the most since June 1983. The drop in unemployment came even as Americans come back into the labor force to resume the hunt for work. The workforce had shrunk in the prior two months. The household survey is volatile, however.

It was the second last report before the November 6 election that pits Obama against Republican Mitt Romney.

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