The US unemployment rate fell last month to its lowest rate since January 2009, figures from the Department of Labour have shown, surprising analysts who had been expecting a small rise.
Report by BBC
Last month’s rate came in at 7,8%, down from 8,1% in August. The latest data also showed that the US economy added a further 114 000 jobs in September, slightly more than markets had expected.
The US jobs market is a key issue in the presidential election race.
When the unemployment rate was last this low, President Barack Obama was about to take office.
However, economist Sean Incremona of New York-based company, 4Cast, said the latest data showed that the US economy remained subdued. “Generally, we are still seeing a mixed underlying picture that is neither too impressive nor terrible,” he said.
Fellow economist, Omer Esiner, of Rhode Island-based Commonwealth Foreign Exchange, said, “This is undoubtedly good news for President Obama’s re-election campaign at the end of a week when he made a hash of the first debate.”