The U.S. Department of Labor said Friday that the official unemployment rate fell to 5.9 percent in September, the lowest reading since the summer of 2008. Employers added 248,000 jobs last month, combined with significant upward revisions in the July and August jobs numbers.
The official headline unemployment rate in September dipped below the 6 percent line for the first time since July 2008. The unemployment rate was 6.1 percent in August.
Not only did the job monthly job gains outpace analysts’ expectations – they were predicting around 225,000 new jobs – the revised jobs numbers from July and August were adjusted upward by a total of 69,000 total jobs over the two months.
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