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U.S. Jobless Rate Drops to 50-Year Low
Unemployment in the U.S. fell in September to 3.5%, its lowest level since December 1969, from 3.7% in in August, the Dept. of Labor reports.
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Unemployment in the U.S. fell in September to 3.5%, its lowest level since December 1969, from 3.7% in in August, the Dept. of Labor reports.
The American economy added 136,000 nonfarm jobs last month compared with an upwardly adjusted 168,000 positions in August. The department says the average monthly gain this year has been 161,000 jobs compared with 223,000 in 2018.
The number of still-unemployed adults in the U.S. fell last month by 275,000 to 5.8 million people.
The Labor Dept. reports that wage growth from August to September was essentially unchanged at $28.09 per hour. Jobs in the vehicle and components sector fell by 4,000, marking the third consecutive month of decline.
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