MAGAnomics – Lowest Unemployment in 50 Years !
The Bureau of Labor Statistics releases the September jobs report. 136,000 jobs were added to the economy and the unemployment rate falls to 3.5%, the lowest since 1969.
Demand for workers remains strong (Table A-1). Overall employment is very stable across all sectors (Table B-1) and wage growth is strong (+2.9%). Additionally, inflation is low; that means more disposable income. The Main Street economy is strong.
♦Over the month, the number of unemployed persons decreased by 275,000 to 5.8 million. ♦Among the unemployed, the number of job losers and persons who completed temporary jobs declined by 304,000 to 2.6 million in September. ♦Also, the number of persons unemployed for less than 5 weeks fell by 339,000. ♦The labor force participation rate held at 63.2 percent in September.
The change in total nonfarm payroll employment for July was revised up by 7,000 from +159,000 to +166,000, and the change for August was revised up by 38,000 from +130,000 to +168,000. With these revisions, employment gains in July and August combined were 45,000 more than previously reported. (BLS Report)