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Unemployment rate falls to 7.8% but percentage of under- and unemployed stands at 15%

The Bureau of Labor Statistics data released Friday showed an unemployment rate of 7.8%, down from 8.1% a month earlier, and the lowest unemployment rate since January 2009. The drop was largely due to the spike in part-time workers during September - the number of workers employed part-time for economic reasons increased 7.2% to 8.6 million. A closer look at the data show that September unemployment figure of 12.1 million, combined with the total number of part-time workers for economic reasons and the number of persons marginally attached to the labor force, came to 23.2 million - or 14.97% of the labor force.