October 2019

US Unemployment Rate Reaches Low of 3.5%

American employers added 136,000 jobs in September, allowing the unemployment rate to reach its lowest since December 1969. Business and healthcare are the two sectors seeing the most growth. Despite the boost, the overall hiring pace has slowed since last year. Monthly job gains have averaged 157,000 over the past three months compared to 189,000 during the same period last year. Wage growth has also seen less growth than expected, growing 2.9% this year compared to 3.2% last year.