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Latino Daily News

Tuesday October 22, 2013

US Unemployment Falls to 7.2%, Lowest Since November 2008

US Unemployment Falls to 7.2%, Lowest Since November 2008

Photo: US Unemployment Falls to 7.2%, Lowest Since November 2008

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The United States created 148,000 non-farm jobs in September, a figure that was below expectations, with the unemployment rate falling to 7.2 percent, the Labor Department said Tuesday.

The release of the September employment report was delayed due to the 16-day partial shutdown of the federal government.

The unemployment rate fell from 7.3 percent in August to 7.2 percent in September, a level not seen since November 2008.

The biggest gains were seen in construction, with 20,000 jobs added, wholesale businesses, which created 16,000 jobs, and transportation and warehouses, which added 23,000 jobs.

The public sector also registered job growth, while restaurants and financial firms saw employment drop.

Analysts were expecting the economy to create 180,000 jobs in September.

The U.S. economy added an average of 143,000 jobs per month from July to September, well below the average of 182,000 jobs created between April and June, the Labor Department said.

The August job number was revised upward from 169,000 to 193,000, while the July figure was revised downward from 104,000 to 89,000, the lowest level in more than a year.

The number of long-term unemployed - defined as people who have been out of work for 27 weeks or longer - was basically unchanged at around 4.1 million in September.

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