US economy

US unemployment rate hits lowest level since 1969


The US unemployment rate fell in September to its lowest level since 1969, the latest sign of the tightening of America’s labour market.

Non-farm payrolls rose by 134,000 in September, the Bureau of Labor Statistics said on Friday, short of economists expectations in a Thomson Reuters survey of 185,000. However, there was a sharp upward revision to the previous month, with employers adding 270,000 jobs in August, up from the initially estimate of 201,000.

The unemployment rate slid to 3.7 per cent, also below expectations for 3.8 per cent.

Meanwhile, average hourly earnings rose 0.3 per cent month-on-month and 2.8 per cent year-on-year in line with expectations. That was slower than the 2.9 per cent rise in August — the swiftest increase in wages in nine years.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.