U.S. Payrolls Rises to 114,000 in September; Unemployment Rate drops to 7.8%

Latest data from the Department of Labor shows that U.S. payrolls rose to 114,00 in September while the U.S. unemployment rate fell to 7.8% from 8.1%, the lowest level since Jan. 2009 when President Obama took office.

The latest data also show a revised 142,000 gain in August that was higher than first estimated. The July- September revisions indicate that U.S. employers added 146,000 jobs per month from July through September, 67,000 higher in the previous three months. Employment figures for July and August were revised to show 86,000 more jobs created than previous reported.

Government payrolls rose 10,000 after increasing 45,000 in August. Manufacturing payrolls fell for a second straight month.

The better than expected U.S. payroll number and the lower unemployment rate may provide a boost President Barack Obama’s re-election bid with only one more employment report  left before the election in November.

 

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