September’s job gains in the United States were below the monthly average of 161,000 this year, but still above the roughly 100,000 needed each month to keep up with growth in the working-age population. More here
WASHINGTON, - The U.S. unemployment rate dropped to near a 50-year low of 3.5% in September, with job growth increasing moderately, suggesting the slowing economy could avoid a recession for now despite trade tensions that are hammering manufacturing.
The two-tenths of a percentage point drop in the unemployment rate from 3.7% in August pushed it to its lowest level since December 1969. The jobless rate, which had been stuck at 3.7% for three straight months, declined even as 117,000 people entered the labor force last month. There is also political uncertainty in Washington after the Democratic-controlled U.S. House of Representatives launched an impeachment inquiry against President Donald Trump after accusations he pressed Ukrainian President Volodymyr Zelenskiy to investigate former U.S. Vice President Joe Biden, a leading candidate for the 2020 Democratic presidential nomination.
Slower growth was reinforced by a report from the Commerce Department on Friday that showed the U.S. trade deficit widened 1.6% to $54.9 billion in August. A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment, declined to 6.9% last month, the lowest level since December 2000, from 7.2% in August.
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