Asset Based Loan

Unemployment rate breaks below 8%

According to the BLS, the unemployment rate has dipped below 8%.    The bureau has reported that total non farm employment rose by 114,000.   Unemployment increased in healthcare and transportation and warehousing but changed little in other areas according to the bureau.

The bureau further reported that among all major worker groups, the unemployment rate for adult men, 7.3%, adult women, 7.0%, and whites, 7.0%, declined over the month.   The unemployment rate for teenagers was 23.7%, for blacks, 13.4%, and Hispanics, 9.9%, each of which were little changed.

The unemployment rate declined by .3% in September, from 8.2% to 7.8%.  The rate had been holding between a narrow rate of 8.1% to 8.3% for the first 8 months of the year.   The bureau also reported that the number of unemployed persons, 12.1 million, decreased by 456,000 in September of 2012.