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US Economy Adds 661,000 Jobs in September, Unemployment Falls to 7.9 Percent
The September employment report showed a sharp slowing in the rate of job growth, with the economy adding 661,000 jobs, less than half of its August rate. The unemployment rate fell by 0.5 percentage points to 7.9 percent, but most of this was due to people leaving the labor force. The employment to population ratio (EPOP) only rose by 0.1 percentage point. At 56.6 percent, it is still 4.4 percentage points below its year-ago level. With jobs remaining in short supply, many people may permanently leave the labor force. The labor force participation rate is down 1.8 percentage points overall since last year, and 2.3 ... (full story)