US jobless rate sinks to 7.8%, lowest since Jan 2009
- Published: 6 Oct 2012 at 01.49
- Online news: World
Revisions to previous data gave a sharply better picture of the US jobs situation on Friday, pushing the unemployment rate down to 7.8 percent, the lowest level since Barack Obama took office.
Job applicants wait to meet potential employers at the NYC Startup Job Fair in New York in September 2012. Revisions to previous data gave a sharply better picture of the US jobs situation on Friday, pushing the unemployment rate down to 7.8 percent.
But analysts did not see the better news as enough to confirm a rebound in growth or to put a halt to the Federal Reserve's brand new QE3 stimulus plan, which was justified by the inability to bring the jobless rate below the 8.0 percent level.
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