U.S Unemployment Rate Drops

POSTED BY: Erika Brooks
Friday, October 5, 2012 - 05:28 PM
U.S Unemployment Rate Drops

For the first time in almost four years the U.S. unemployment rate dropped below 8 percent. It now stands at 7.8 percent.

The labor department said today that employers added 114,000 jobs in September. Wages also rose last month and more people started looking for work. In order to get an accurate picture of where the nation truly stands on jobs, an in depth look into the numbers is needed.

"You really have to look at what's behind those numbers to get a real feel for which direction we're headed economically. You have to know how many of those are temporary jobs and how many of those are part time jobs and what kind of jobs they are in terms of pay," said Zanesville-Muskingum County Chamber of Commerce President Tom Poorman.

Many jobs added last month were in fact part time. But the new jobs numbers should help businesses.

"I hope that it gives businesses some more confidence, that's something that's been lacking for the last couple years. That businesses don't have the confidence to invest and consumers don't have the confidence to make purchases if that's starting to turn around, that's really good news," said Poorman.

The September gains were led by the health industry, which added 44,000 jobs. Transportation and warehousing also showed large gains.

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