Unemployment rate drops to 5.6 percent in September

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Friday, Oct. 4, 2002 | 9:52 a.m.

WASHINGTON -- The nation's unemployment fell to 5.6 percent of the labor force in September -- even as businesses nervous about economic prospects slashed payrolls by 43,000 jobs.

Today's Labor Department report sent mixed signals, not only about the health of the labor markets but also about the condition of the economy generally.

The 5.6 percent seasonally adjusted overall jobless rate -- down from 5.7 percent in August -- was based on a survey of U.S. households. The 5.6 percent rate was the lowest in seven months. But a separate report measuring labor market health -- a survey of business payrolls -- showed 43,000 fewer jobs.