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Unemployment Rate Drops to 5-Year Low
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AP Online
- Article date:
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November 3, 2006
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Copyright informationCopyright 2006 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
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WASHINGTON - The unemployment rate dropped to a five-year low of 4.4 percent in October as employers added 92,000 new jobs - flashing a picture of a strong labor market as the midterm elections draw near.
The latest report, released Friday by the Labor Department, showed that the civilian unemployment rate fell 0.2 percentage point from 4.6 percent in September. It marked the third month in a row that the politically prominent jobless rate declined.
The tally of new jobs added to the economy in October fell short of economists expectations for an increase of around 125,000 positions, however. Nonetheless, job gains in both August and September turned out to be much stronger than ...
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