The jobless rate unexpectedly dropped to a four-month low of 5.3 percent in September, the government said Friday, adding to signs that a recovery in the economy is spreading to consumers.
The unemployment rate declined from 5.5 percent in August. The median estimate of 29 economists surveyed by Bloomberg was for the rate to increase to 5.6 percent, with only one person predicting a drop.
Stocks rose, building on a global rally spurred by a report that showed the U.S. economy expanded for the first time in a year.
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