Unemployment rate falls to 5.8 percent

SHARE Unemployment rate falls to 5.8 percent
SHARE Unemployment rate falls to 5.8 percent

Three days after voters registered their sourness about the U.S. economy, the government says employers added a solid 214,000 jobs in October, extending the healthiest pace of hiring in eight years.

The Labor Department also says that 31,000 more jobs were added in August and September than it had previously estimated. The revised figures show that employers have added at least 200,000 jobs for nine straight months, the longest such stretch since 1995.

The burst of hiring lowered the unemployment rate to 5.8 percent from 5.9 percent. That is the lowest rate since July 2008.

Economic growth has accelerated this year and hiring has been robust. Yet despite the data, the economy was voters’ top concern in Tuesday’s elections. That suggests the improvement hasn’t yet been felt by many Americans.

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