U.S. unemployment fell below 8% last month, the lowest level since President Obama took office. It’s an important mark, coming after months of downbeat labor data, and adds a wrinkle to the presidential campaigns.
Payrolls grew by 114,000 new jobs in September, as the unemployment rate fell to 7.8% from 8.1%, new Labor Department data shows. Moreover, the summer seems to have been better than thought: job gains were revised up by 40,000 for July and by 46,000 for August.
It is crucial to note that the unemployment rate did not fall because of the same circumstances as past months. The rate had declined recently because fewer workers gave up on job hunting. But in September, the labor force actually grew by 418,000 to 155.1 million, as labor-force participation stayed the same. That means that the country absorbed those people, and still created more jobs besides.
read source article
Apple Needs to Make it in America
