US unemployment falls

Those of us who pay attention to the economy and labor markets got some moderately good news today. National unemployment fell in September to 7.8 percent, according to new data from the Bureau of Labor Statistics.

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However, it's important to remember that far too many folks are still out of work. Some groups are particularly hard hit: teenagers (23.7 percent unemployed), blacks (13.4 percent unemployed), and Hispanics (9.9 percent unemployed) in particular.

A further 2.5 million Americans are classified as marginally attached workers; willing and able to work, but not counted in the labor force because they haven't looked for work in the last four weeks.

Increases in employment were concentrated in the health care industry, transportation and warehousing, and the financial activities industry. Combined, these three industries added 74,000 jobs. Manufacturing employment declined by 16,000 positions nationwide.