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AP Economics Writer

WASHINGTON (AP) — The US unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years. The rate fell because more people found work, a trend that could impact the presidential election.

The Labor Department says 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 percent 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 against Mitt Romney.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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27 Comments on "US jobless rate falls to 7.8 pct., 44-month low"

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Guest: unemployed in NC
2016 years 2 months ago

The job numbers are going down for several reasons. Every year, retailers start the seasonal hiring period for Thanksgiving and Christmas holidays. This happens EVERY year at this time. I can tell you, after working many years in retail, the number of people hired this year reflects part-time employees. You can hire twice the number of part-time employees for the price of one full time employee. So the numbers don’t tell you these positions are part-time, seasonal help. They do, however, make the numbers hired appear to be good,… Read more »

2016 years 2 months ago

I find it rather funny how the GOP, and there devoted followers think… So you’ll use the unemployment rate numbers when they are not favorable for the Democratic President, but when the numbers go down in his favor you call bull****. WOW! it must be fun being so ignorant… The same steps and procedures go into place every month, and every month they come out with a number in the following month they revise this number if need be such as August it was reported that 109,000 jobs were created… well after more information had came in the BLS confirmed… Read more »

2016 years 2 months ago

This is just politicking before an election. This number was created by excluding those who have re-entered the workforce in part-time positions. If you look at other, more credible news sites – you’ll see that has been pointed out numerous times – the U-6 rate is still at 14.7% which means even more folks are settling for part-time jobs. So, the fact that there are more folks working at McD’s is not a fair representation of a rebounding economy. Instead, it shows some folks are so desperate, they’ll take anything – even if they can’t… Read more »

Dr. Archy Cary
2016 years 2 months ago

Out of what Cracker Jack box did this guy get his B.S. in Economics?

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