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US Unemployment Falls to 7.8 Percenti
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Mil Arcega
October 06, 2012 12:52 AM
The U.S. unemployment rate unexpectedly fell to 7.8 percent in September, the first time it has dipped below 8 percent in 44 months. Despite only modest gains last month, revisions to the Labor Department's job numbers in July and August show the economy added more jobs than were initially reported. The key government report comes just one month ahead of presidential elections that could hinge on the economy. But as Mil Arcega reports, some say the job numbers don't tell the whole story.

US Unemployment Falls to 7.8 Percent

Published October 05, 2012

The U.S. unemployment rate unexpectedly fell to 7.8 percent in September, the first time it has dipped below 8 percent in 44 months. Despite only modest gains last month, revisions to the Labor Department's job numbers in July and August show the economy added more jobs than were initially reported. The key government report comes just one month ahead of presidential elections that could hinge on the economy. But as Mil Arcega reports, some say the job numbers don't tell the whole story.