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Latest U.S. jobs report shows progress -Fed's Plosser

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AVONDALE, Penn., Oct 11 (Reuters) - The September U.S.employment report was "mostly good news" that shows someprogress, though the labor market still has a long way to go,Charles Plosser, president of the Philadelphia Federal ReserveBank, said on Thursday.

The jobless rate fell sharply to 7.8 percent last month,from 8.1 percent in August, as the economy added 114,000 newnon-farm jobs. The jobless rate had been above 8 percent forthree-and-a-half years.

(Reporting by Jonathan Spicer; Editing by Leslie Adler)

((jonathan.spicer@thomsonreuters.com)(+1 646 223 6253)(ReutersMessaging: jonathan.spicer.reuters.com@reuters.net))

Keywords: USA FED/PLOSSER JOBS