Jobless Rate Improves to 7.8%

Published 10/05 2012 09:48AM

Updated 10/05 2012 09:50AM

The monthly jobless rate dipped below 8 percent for the first time in nearly four years, according to new economic data that could give President Obama a campaign-trail lifeline after a disappointing debate performance.

The September report showed the unemployment rate falling to 7.8 percent. The number of jobs added was still a modest 114,000, and many of them were part time -- but the president's campaign will surely use the lower rate to boost its argument that the economy is heading in the right direction.

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