U.S. jobless rate hits 49-year low of 3.7 percent

U.S. jobless rate hits 49-year low of 3.7 percent

The headline of today's employment report is the drop in the unemployment rate to 3.7%, the lowest rate since December 1969.

There were fewer jobs, however, added to the USA economy in September than analysts expected. department figures showed about 134,000 new jobs for September - well below the 185,000 anticipated by experts. That reversed the bulk of the increase from the prior week when claims were boosted by Hurricane Florence, which slammed North and SC in mid-September. Hurricane Florence likely weighed on job growth in September 2018, just as Hurricanes Harvey and Irma weighed on job growth in September 2017.

The annual rise in wages fell to 2.8 percent from 2.9 percent in August, which was the biggest advance in more than nine years.

In a separate report on Thursday, the Commerce Department said new orders for USA -made goods recorded their biggest increase in almost a year in August. "If unemployment is low, it means more people are working".

That run has added almost 20 million people to the nation's payrolls since the Great Recession, which cost almost 9 million their jobs.

August's job gains were also revised significantly higher in Friday's report, with the BLS now estimating the economy created 270,000 jobs in August, 69,000 more than previously estimated. Pointing to the economy's health, the Fed last week raised its benchmark short-term rate and predicted that it would continue to tighten credit into 2020 to manage growth and inflation.

The Trump administration says eliminating the trade deficit will put the economy on a sustainable path of faster growth, an argument that has been dismissed by many economists as flawed given constraints such as low productivity and slow population growth.

US Military Cancels 300 Million USD Financial Aid to Pakistan.

The September jobs report does not change the outlook for interest rates.

The unemployment rate in September fell to 3.7%, its lowest level since December 1969.

Melania Trump feeds baby elephants as Kenya visit begins
Agency for worldwide Development (USAID), but President Trump has proposed cutting its budget by 30 percent the past two years. Upon her departure, the first lady gifted children with dozens of " Be Best " soccer balls, tote bags and school supplies.

Wage growth remains sufficient to keep inflation around the Fed's two per cent target.

Despite newly-imposed tariffs on steel and aluminum, manufacturing added another 18,000 jobs.

Wages increased in line with forecasts.

"I view this as the strongest labor market in a generation", said Andrew Chamberlain, chief economist at the career site Glassdoor.

United States construction companies hired 23,000 more workers last month after increasing payrolls by 26,000 jobs in August.

Jobs in the transportation and warehousing sector grew by 23,800, while the construction industry added 23,000 jobs.

Washington last month slapped tariffs on $200 billion worth of Chinese goods, with Beijing retaliating with duties on $60 billion worth of US products.

This comes despite President Donald Trump's tariffs on goods from countries including China and those of the European Union. This is the sixth straight month the unemployment rate has been at or below four percent, also the best in a half century.

Economists polled by Reuters had forecast the overall trade deficit swelling to US$53.5 billion in August.

Related Articles

  • Banksy painting destroyed in artist's prank at Sotheby's auction

    Banksy painting destroyed in artist's prank at Sotheby's auction

    It's unclear what will happen to the artwork from here but Branczik said it's possible that it was more valuable now. Banksy is a Bristol-born artist whose true identity - despite rampant speculation - has never been revealed.
    People react to Donald Trump 'elevator screamers'

    People react to Donald Trump 'elevator screamers'

    Supreme Court, Donald Trump took to Twitter to continue to show support of the "good man" who was accused of sexual assault by Dr. It was a freaky claim, but a familiar one for many on the right, who have accused Soros of bankrolling other prominent protests.
    Liverpool v Manchester City

    Liverpool v Manchester City

    The Senegalese striker has scored four league goals against them, and only has a better record against Crystal Palace. Pep Guardiola has opened the door to a sensational return from Kevin De Bruyne against Liverpool this weekend.
  • Westinghouse Targeted In Hack, US Justice Department Alleges

    Westinghouse Targeted In Hack, US Justice Department Alleges

    The cascade of condemnation - from the Australian, British and Dutch governments - does more than just point the finger at Moscow. A leading developer of nuclear power plants, Westinghouse said it has no evidence that Russia's hacking attempts were successful.
    Donald Trump Sends Americans First Nationwide Presidential Alert Text

    Donald Trump Sends Americans First Nationwide Presidential Alert Text

    This message and will be labeled a " Presidential Alert " and, yes, will be coming at the direction of the White House. If you're picturing a red button inside a glass box or a fire-alarm-style handle on the wall - this isn't that.
    Samsung released Galaxy Note 9 in the new color

    Samsung released Galaxy Note 9 in the new color

    In addition to the new Galaxy Watch , you can also charge the last-generation Gear Sport , Gear S3 Frontier and Gear S3 Classic . It took over 20-foot drop for iPhone XS Max to smash from the front completely, which is about two-story apartment height.
  • Senate gets FBI Kavanaugh report; Trump rejects Democratic criticism

    Senate gets FBI Kavanaugh report; Trump rejects Democratic criticism

    The Judiciary panel's 10 Democrats said in a statement that based on their briefing and study of the document, "That is not true". In the course of its investigation, the FBI made a decision to reach out to eleven people, ten of whom agreed to be interviewed.
    State elections prompt reduction in oil prices

    State elections prompt reduction in oil prices

    Party spokesperson Sambit Patra expressed hope that people would get the Rs-5-per-litre relief at the earliest, PTI reported. Diesel prices in Chennai increased by 22 paise to Rs 79.79 a litre and by 20 paise to Rs 77.30 per litre in Kolkata.
    Former rap mogul Suge Knight set to be sentenced

    Former rap mogul Suge Knight set to be sentenced

    He briefly looked at Carter's family as he was led out in handcuffs following the sentencing. He pleaded no contest on Sept 20 to a charge of manslaughter for a hit-and-run killing.
  • Senators Collins, Manchin back Kavanaugh, paving way for confirmation

    That is a state that President Donald Trump won by a very large margin - by more than 40 percentage point, in fact. Trump called the Kavanaugh confirmation process - and ensuing backlash - a "rallying cry" for the GOP.
    Liverpool v Manchester City — Big Match Focus

    Liverpool v Manchester City — Big Match Focus

    According to the Mirror, he might be available for selection when they host Liverpool this weekend in a battle for EPL top spot. But one thing is for sure, fans of the oil rich club don't like it when they have to come to Anfield, and for good reason.
    Honjo shares Nobel Prize for protein to boost cancer therapy:The Asahi Shimbun

    Honjo shares Nobel Prize for protein to boost cancer therapy:The Asahi Shimbun

    Along with surgery, anticancer drugs and radiation therapy , immunotherapy is drawing attention as another treatment for cancer. Allison's work led to development of the first immune checkpoint inhibitor drug, according to MD Anderson Cancer Center .