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National jobless rate falls to 7.8 percent

By Palm Beach Business.com

WASHINGTON — The economy added 114,000 jobs in September, driven by increased hiring in health care and transportation and warehousing, while the unemployment rate dropped to 7.8 percent from August’s 8.1 percent.

The rate is the lowest in nearly four years.

The number of unemployed stands at 12.1 million, down 456,000 from a month earlier. The U.S. Department of Labor issued the report Friday morning.

The number of new hires were about what economists had expected.

The average work week edged up by 0.1 hour to 34.5 hours while earnings rose 7 cents to $23.58. Over the past 12 months, average hourly earnings have risen by 1.8 percent.

The Labor Department revised the number of jobs added in July to 181,000 from the previously reported 141,000, while the August number was revised to 142,000 from 96,000.