The September jobs report shows a slight decline in the unemployment rate for September, as the rate fell to 7.2%.  Over the past year, it has fallen by 0.6%, as it was 7.8% in September of 2012.  The graph below shows the unemployment rate since the beginning of 2003.

Other important statistics from this report:

• Nonfarm employment rose by just 148,000 jobs.  This is not enough to bring the unemployment rate down to its natural level.
• The labor force participation rate continued its decline, falling to just 63.2%.