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US jobless rate falls

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.”

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