US Unemployment is Below 6% For First Time Since 2008

October 3, 2014 Share Print 0

The nation’s unemployment rate fell below 6% in September for the first time in six years.

The rate came in at 5.9%, while employers added 248,000 jobs last month.

The unemployment rate fell last month because more people were getting jobs, not because they were dropping out of the labor force as they have at times during the economic recovery. The number of people in the workforce was essentially unchanged.

Jobs growth was strong in professional and business services, particularly in employment services and consulting. The retail and health care sectors, which have been a powerhouse throughout the recovery, also gained. Construction added 16,000 jobs.

via CNN

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.