Jobless Rate Falls Below 8 Percent for First Time in 4 Years - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Jobless Rate Falls Below 8 Percent for First Time in 4 Years

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The unemployment rate now stands at 7.8 percent.  It's the first time the rate has fallen below 8 percent in four years.

In the latest report, the Labor Department says 114,000 jobs were added last month. Department officials also changed unemployment numbers for July and August saying the economy added more jobs than originally estimated. The report also showed more people started looking for work and wages in September increased.

The 7.8 percent matches the unemployment rate when President Obama first took office. Since obama's inauguration, the rate held steady above 8 percent for 43 straight months.

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