Unemployment Rate Falls to Lowest Level Since Moon Landing
The unemployment rate in September fell to 3.7 percent, the lowest since 1969, the same year U.S. astronauts first walked on the moon.
“Encouraging indicators were broad based,” said U.S. Secretary of Labor Alexander Acosta. “For the fifth month this year, the unemployment rate has been below 4 percent. The unemployment rate for women fell to 3.6 percent, the lowest in 65 years, and the unemployment rate for Hispanics matched a record low set in July 2018. The number of unemployed fell below 6 million for the first time since December 2000.”
The Labor Department reports that 134,000 jobs were added last month, and upward revisions of 87,000 jobs were made in July and August for a total of 221,000 new jobs in that time span.
“The American economy continues to fire on all cylinders. During the past few months, we have seen GDP growth exceed 4 percent, consumer confidence rise to an 18-year high, and the stock market set new records,” Acosta said. “President Trump’s new trade agreement with Mexico and Canada will open even more opportunity for Americans.
“As we recover from Hurricane Florence, the Department of Labor is working closely with states to help them assess workforce needs so that Americans can return to work or find a new job. Getting dislocated workers back on their feet is a top priority.”
