Unemployment Drops Below 8% for First Time in 4 Years
Oct 8, 2012
| Print this page
The drop in September unemployment was not statistically huge but symbolically important, particularly for its high-profile significance in the presidential campaign.
The new report also revised lower the rates of unemployment in July and August.
September marked the first time the unemployment rate fell below 8% since January of 2009.
In addition, the number of "discouraged" workers, without jobs but not counted as unemployed because they have given up looking, was down 235,000 from a year earlier
Electrical Equipment and Appliances Manufacturing sector employment - not seasonally adjusted - was 372,200 in September 2012, down slightly from 372,700 in August 2012 but up from 368,500 in September 2011.
Electrical Equipment and Appliances Manufacturing sector employment - seasonally adjusted - was at 371,300 in September 2012, down slightly from 371.500 in August 2012 but up from 367,600 in September 2011.
September's total nonfarm payroll unemployment rate fell by 0.3 percentage points to 7.8% in September, with payroll up by 114,000, according to a report from the U.S. Bureau of Labor Statistics.
The number of the unemployed persons decreased by 456,000 in September.
In September, 2.5 million persons were "marginally attached" to the labor force, and this was essentially unchanged from September of 2011.
These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.
Of the marginally attached were 802,000 "discouraged" workers, down 235,000 from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them.
The remaining 1.7 million persons marginally attached to the labor force in September had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.
Back to Breaking News