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TRUMP EFFECT: September unemployment rate falls to 3.5%, a 50-year low, as payrolls rise by 136,000

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President Trump is the best POTUS of our lifetime, and he must be re-elected in 2020. There is really no other choice but to save America. Any American who votes for the lawless and corrupt Democrats in 2020 is out of their mind. The Democrat Party in it’s current condition must not be allowed to govern the United States.

September unemployment rate falls to 3.5%, a 50-year low, as payrolls rise by 136,000

  • The jobless rate in September dropped 0.2 percentage points to 3.5%, the lowest since December 1969.
  • Nonfarm payrolls rose by 136,000 in September, below the 145,000 forecast by economists polled by Dow Jones.
  • However, past numbers were revised higher. August was revised up to 168,000 from an initial estimate of 130,000, while July was increased to 166,000 from 159,000, for a net gain of 45,000.
  • Wages rose just 2.9% for the year, the lowest increase since July 2018.

By NBC News, October 4, 2019:

Unemployment hit a fresh 50-year low in September even though nonfarm payrolls rose by just 136,000 as the economy nears full employment, the Labor Department reported Friday.

The jobless rate dropped 0.2 percentage points to 3.5%, matching a level it last saw in December 1969. A more encompassing measure that includes discouraged workers and the underemployed also fell, declining 0.3 percent points to 6.9%, matching its lowest in nearly 19 years and just off the all-time low of 6.8%.

Stocks opened higher following the jobs report, with the Dow Jones Industrial Average up nearly 150 points.
Also, the jobless rate for Hispanics also hit a new record low, while the level for African Americans maintained its lowest ever.

At the same time, the economy saw another sluggish month of growth. The nonfarm payrolls count missed the 145,000 estimate from economists surveyed by Dow Jones; the expectation on the jobless rate was to hold steady at 3.7%.

Wages also were a disappointment, with average hourly earnings little changed over the month and up just 2.9% for the year, the lowest increase since July 2018.

The report comes amid uncertain times for the economy, with fears escalating that weakness abroad will bleed into the U.S. and possibly cause a recession. Readings earlier in the week showed continued contraction in manufacturing and a sharp decline in the much larger services industry.

 

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