Unemployment rate falls below 6 percent as employers add 248,000 jobs

Labor Department reports that unemployment rate is the lowest it's been since July 2008

By Luke Brinker
October 3, 2014 4:45PM (UTC)
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Dozens of job seekers line up to enter a job fair in New York. (AP)

The Department of Labor's Bureau of Labor Statistics reported Friday that nonfarm employment increased by 248,000 jobs in September, bringing the unemployment rate down to 5.9 percent from 6.1 percent.

The unemployment beat expectations; economist surveyed by Bloomberg had estimated that 215,000 jobs were added last month. The report marks the first time the unemployment rate has been below 6 percent since July 2008.

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