Unemployment falls but hiring slows

NEW YORK -- The unemployment rate fell to its lowest level since November 2008, but the government's latest jobs report still shows a muddled picture of the economy.

According to the September jobs report, which was delayed 18 days by the government shutdown, hiring slowed last month. But the unemployment rate fell as more workers said they got jobs and joined the labor force.

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Employers added 148,000 jobs in September, fewer than the 193,000 jobs they added in August, the Department of Labor reported. Meanwhile, the unemployment rate fell to 7.2% as 73,000 people joined the labor force and 133,000 people said they got jobs.

Still, 11.3 million jobless people continued to look for work, to no avail.

What's more, the economic impact from the shutdown is not expected to show up in the data until the October jobs report is released on November 8.

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