Nonfarm payrolls grew a seasonally adjusted 248,000 last month, the fastest pace since June, the Labor Department said Friday. Revisions showed stronger job growth in prior months than previously estimated. The economy added 180,000 jobs in August instead of the initially reported 142,000. It created 243,000 in July, up from an earlier estimate of 212,000.
The unemployment rate, obtained from a separate survey of households, fell to 5.9% last month from 6.1% in August, hitting the lowest level since July 2008... (It) is approaching the 5.2%-to-5.5% range the Fed considers full employment. September's jobless rate is where officials projected it would be at the end of 2014."
For those keeping score at home:
- That's an additional 1.9 million jobs since January;
- That's an additional 2.6 million jobs in the past year;
- That's an additional 5.5 million jobs since January 2009.
- That's an additional 9.1 million jobs in the last four years, exceeding any job growth reported in the Bush administration;
- That's an additional 9.8 million jobs since job loss ended in February 2010.
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