Sept. Jobs Report: Unemployment Drops to Lowest in 50 Years

CTH reporting Bureau of Labor Statistics numbers

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)

National Economic Council Director Larry Kudlow discusses the Sept. Jobs report, the ISM manufacturing and non-manufacturing reports and the next stages of U.S.-China trade negotiations.

Kudlow notes job growth in the Household survey was a stunning 391,000 in September.  

Kudlow also appeared on Bloomberg to discuss similar aspects of the latest reports