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Unemployment Rate Slides To Near 4-Year Low
The latest jobs report shows a big drop in the unemployment rate, falling to a level not seen since President Obama took office.
FOX News Radio’s Jared Halpern explains how it happened:
The unemployment rate now sits at 7.8%. The first time in nearly four years it’s been below the 8% threshold, and down from 8.1% percent last month.
The Labor Department says the number of people surveyed who now say they are working jumped by 873,000 last month, a huge surge from previous reports.
A separate survey of employers finds 114,000 jobs were created in September. And in the two months prior, 86,000 more jobs were created than first estimated.
All that accounts for the sharp decline in the unemployment rate. Still, the Labor Department notes many of those newly created jobs are part-time.
In Washington, Jared Halpern, FOX News Radio.
On Main Street, there’s mixed reaction to the government’s latest jobs report.
FOX News Radio’s Jennifer Keiper reports from Madison, Wisconsin:
Tell folks here in Madison that the unemployment rate has dipped to 7.8% from 8.1% and their response?
(Resident) “Yeah right, that’s my comment to that.”
(Resident) “It sounds right. It’s a lot more people that’s working that I’ve seen, or that I’ve talked to. Before, it was much harder to find jobs.”
(Resident) “That’s kind of what mostly matters to me is, you know, friends and family that still can’t find a job. So, the numbers don’t mean much to me.”
One woman says to help her adult son find a job, she’s helped him re-work his resume and has conducted mock interviews with him.
In Madison, Wisconsin, Jennifer Keiper, FOX News Radio.