The U.S. economy is picking up steam, with employers hiring again at a healthy pace and the unemployment rate at its lowest since the summer of 2008, the Bureau of Labor Statistics reported Friday.
The Bureau reported that the jobless rate fell below 6 percent, dropping to 5.9 percent from 6.1 percent in August, continuing a decline from its recession peak of 10 percent.
It’s the lowest unemployment rate since the miserable Bush summer of 2008. (Of course, when you adjust for Obama’s blackness, the REAL unemployment rate is 27%!)
Employers added 248,000 jobs in September across a number of sectors, and hiring in August, originally seen as suggesting the economy might be faltering again, was revised upward to a more promising 180,000 jobs, the government said.
The pace of job creation in September was above many economists’ expectations and was a return to the 200,000 level, a mark that had been surpassed each month since midwinter until the August lull.
The strong report — the last one before the midterm elections — buoyed the outlook of economists who had worried the postrecession recovery was being sidetracked, with many Americans feeling left out of the improving economy.
Investors were also encouraged by the report. Stocks moved higher, and the dollar rose against many major currencies.