U.S. Jobless Rate Falls to 7.8%

September payrolls expand by 114,000, while August's gain was revised higher.

The unemployment rate in the U.S. unexpectedly fell to 7.8 percent in September, the lowest since President Barack Obama took office in January 2009, as employers took on more part-time workers.

The economy added 114,000 workers last month after a revised 142,000 gain in August that was more than initially estimated, Labor Department figures showed today in Washington. The median estimate of 92 economists surveyed by Bloomberg called for an advance of 115,000. The jobless rate dropped from 8.1 percent and hourly earnings climbed more than forecast.

‘Real Recovery’

“This is not what a real recovery looks like,” Romney said in a statement. “We created fewer jobs in September than in August, and fewer jobs in August than in July.”

Factory Jobs

Factories eliminated 16,000 positions, compared with the survey forecast of no change and following a 22,000 decrease in the previous month.

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