Strong U.S. jobs report drops unemployment rate below 6% for first time since July 2008
The Bureau of Labor Statistics reported today that the U.S. economy added 248,000 jobs in September and the unemployment rate fell to 5.9 percent – the first time the rate has been below 6 percent since July 2008.
The report had the stock market up modestly in early trading, the first bump in the market this week, which has seen stocks tumble beginning on Tuesday.
The report also strengthened the dollar against other major currencies. The euro fell today against the dollar, which has been gaining in value since July, up 7.5 percent.