US Unemployment Rate Falls to 5.9 Percent on Strong Job Gains

The US unemployment rate fell to 5.9 percent in September, dropping below 6 percent for the first
time in more than six years. The decrease was powered, in part, by strong growth of payroll jobs. Payroll jobs increased by 248,000 in September, well above the average for the year to date. In the same report, the BLS revised the weak August job gain upward from 142,000 to 180,000, and the July gain from 212,000 to 243,000.

In addition to the standard unemployment rate, the BLS also publishes a broader measure of labor market distress known as U-6. That measure takes into account discouraged workers, others who are marginally attached to the labor force, and people who are working part time but would prefer full-time work. U-6 decreased to 11.8 percent in September, also a six-year low. The unemployment rates are based on a survey of households that differs in several respects from the survey of employers from which payroll job numbers are drawn. According to the household survey, total employed workers increased by 232,000 in September while the number of unemployed decreased by 329,000. The civilian labor force decreased by 97,000, and the employment population ratio was unchanged. >>>Read more

Follow this link to view or download a brief slideshow with charts of the latest employment data