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U.S. Unemployment Drops to 6-Year Low
America's jobless rate fell to 5.9% in September from 6.1% in August, its lowest level since July 2008, according to the U.S. Dept. of Labor.
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America's jobless rate fell to 5.9% in September from 6.1% in August, its lowest level since July 2008, according to the U.S. Dept. of Labor.
Employers created 248,000 jobs last month. The Labor Dept. says the country has added an average 227,000 positions per month this year, the strongest growth in about 16 years.
The number of unemployed people in the country declined by 329,000 to 9.3 million. But the Labor Dept. says the number of involuntary part-time workers remained unchanged at 7.1 million.
Job growth in the manufacturing and the transportation sectors in September was essentially flat for the second straight month. Analysts note that actual wages have climbed only 2% to an average $24.53 per hour in the past 12 months.
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