Unemployment Rate Falls to 5.6%

The report was stronger than expected given that the payrolls gain in August was revised sharply higher and the jobless rate slipped to a seven-month low

September nonfarm payrolls dropped 43,000, which was well below expectations. Nonetheless, most other parts of the report were well above expectations, which on net, suggested a much stronger tone to the report than the September payroll change would imply.

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