Economy Adds 661,000 Jobs, Unemployment Falls To 7.9%


The U.S. added 661,000 new jobs in September and the unemployment rate dropped - but the rate of growth is slowing down.

The latest numbers from the Labor Department show unemployment dropping down to 7.9% last month - about half of the peak 14.7% unemployment rate we saw back in April. New jobless claims have been averaging around 800,000 per week.

Job growth has slowed down in each of the last three months, and forecasters are concerned about a wave of layoffs coming from companies like United Airlines and Disney World.

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