This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

US Unemployment Below 8 Pct, First Time Since 2009

But the revisions to the July and August figures on Friday eased those fears somehwat. Monthly job growth was back up to an average 146,000 from July through September.

Naroff, the economist, predicted that unemployment would inch back up, and that job growth would settle at about 150,000 per month for the next several months. Economists at PNC Financial Services Group predict job growth will accelerate to 170,000 per month in 2013.

The economy is still far from full health. The number of U.S. jobs peaked in January 2008, a month after the Great Recession officially started, at 138 million. The job market shed 8.8 million jobs by February 2010. Since then, the economy has regained 4.6 million, or a little more than half, of those lost jobs.

No incumbent president since Gerald Ford in 1976 has faced re-election when the unemployment rate was as high as September's 7.8 percent, even after the sharp drop from August. Ford lost to Jimmy Carter.

Ronald Reagan faced 7.2 percent unemployment in 1984 and trounced Walter Mondale to win a second term.

___

AP Economics Writer Michael Sandler contributed to this report.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
5 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,683.58 -46.53 -0.26%
S&P 500 2,068.76 -8.02 -0.39%
NASDAQ 4,991.94 -17.2740 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs