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U.S. Unemployment Rate Declines for September Submitted: 10/05/2012
WASHINGTON - The U.S. 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.

Romney says a drop in the nation's unemployment rate to 7.8 percent ``is not what a real recovery looks like.''

The former Massachusetts governor responded to the September jobs report out Friday by arguing that Obama has a failed record on the economy.

(Copyright 2012 Associated Press - All Rights Reserved)


Story By: Associated Press

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