The unemployment rate fell to 8.1 percent from 8.3 percent in July, the Labor Department said Friday. But that was only because more people gave up looking for work. The government only counts people as unemployed if they are actively searching.
The government also said 41,000 fewer jobs were created in July and June than first estimated. The economy has added just 139,000 jobs a month since the beginning of the year, below 2011’s average of 153,000.
Dow Jones industrial futures, which had been up before the report, fell soon after it was released.
The hiring figures and unemployment rate will be among the most politically consequential of the campaign. They arrive just as the presidential race enters its final stretch. Jobs are the core issue, and the report could sway some undecided voters.
Read/learn more at CBS News.
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