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18 UNEMPLOYMENT RATE FALLS BELOW 6 PERCENT FOR FIRST TIME SINCE 2008 After giving a soft performance in August, the labor market came back strong in September, knocking the national unemployment rate down below the 6.0 percent mark for the first time in more than six years. According to the latest monthly figures from the Bureau of Labor Statistics, the nation added 248,000 jobs in September, bringing employment growth back above 200,000 after an unexpected drop in August. Economists surveyed by the Wall Street Journal predicted the economy would add 215,000 jobs last month. Meanwhile, payroll figures for July and August were revised upward to 243,000 and 180,000, respectively, tacking on an additional 69,000 jobs to their original estimates. Over the last year, monthly job growth has averaged 213,000. With the latest estimate, the government puts the U.S. unemployment rate at 5.9 percent, its lowest since July 2008. is represents a decline of 0.2 percentage points from the 6.1 percent rate that was reported for August. e number of unemployed persons nationwide fell by 329,000 down to 9.3 million from August to September. Industries that experienced notable job growth in September were business services, retail trade, and health care. Year-to-date as of the end of September 2014, the unemployment rate has fallen by a total of 1.3 percentage points and the number of unemployed persons has decreased by 1.9 million, according to the Bureau of Labor Statistics. Fannie Mae's chief economist, Doug Duncan, weighed in on the employment report, saying the GSE maintains its "forecast of solid economic growth" in response to the data released. "Today's encouraging jobs report also is consistent with results from our September National Housing Survey, to be released next week, which is expected to show a rebound in consumer expectations regarding housing after a couple of months of eroding confidence," Duncan said. "Overall, we maintain our forecast of solid economic growth–fueled by steady job gains–for the remainder of the year, which should help build momentum for consumer housing sentiment, setting up for a stronger housing recovery in 2015." Meanwhile, payroll figures for July and August were revised upward to 243,000 and 180,000, respectively, tacking on an additional 69,000 jobs to their original estimates. Over the last year, monthly job growth has averaged 213,000. "Today's report confirmed our expectation that much of the weakness in the August hiring number would be revised away," Duncan said. "e improved job gains over the past six months, combined with other economic data, support our forecast for firming economic growth in the second half of 2014. e decline in the unemployment rate, though due partly to a shrinking labor force, will get the attention of Federal Reserve officials, but the muted wage gains may help soothe their concerns over brewing wage inflation."