Breaking News: Unemployment Rate Falls Below 7.8%

The nation’s unemployment rate fell below to 7.8 percent in September down from 8.1 percent in August. During September the economy added 114,000 jobs to payrolls, the Bureau of Labor Statistics reports.

At 7.8 percent, the jobless rate is below 8 percent for the first time since the massive jobs losses at the end of the Bush Administration, when the economy was losing over 700,000 jobs a month, and also below 8 percent for the first time since President Obama was sworn into office in January 2009.

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