Unemployment rates drop

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by Becky Mortensen

Story Created: Oct 5, 2012 at 2:45 PM CDT

Story Updated: Oct 5, 2012

WASHINGTON (AP) -- The U.S. unemployment rate fell to 7.8 percent last month, dropping below 8 percent for the first time in nearly four years

The rate fell because more people found work, a trend that could impact the presidential election.

The Labor Department says employers added 114,000 jobs in September. The economy also created 86,000 more jobs in July and August than first estimated.Wages rose in September and more people started looking for work.

The unemployment rate fell from 8.1 percent in August, matching its level in January 2009 when President Barack Obama took office.

The decline could help Obama, who is coming off a disappointing debate against Mitt Romney.

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