USA unemployment drops to the lowest level since 1969

BACK TO WORK: Unemployment Drops to 3.7%, Lowest Since DECEMBER 1969

Slower Than Expected Job Growth in September

I expect the unemployment rate to hold at 3.9 percent.

If Republicans can make the case to voters that their policies are largely responsible for this increased pay and improved job prospects, they can maintain control of Congress on Election Day.

Hospitals added 12,000 jobs last month, 47% of total healthcare hiring, and easily beating out ambulatory's 10,300 jobs. This suggests that the tax cuts that took effect this year are boosting job opportunities. The labor-force participation rate and the employment-to-population rate fell by 0.2 percentage points to 62.7 percent and 60.3 percent, respectively.

The average hourly wage in the USA last month increased by 0.3% compared to August and by 2.8% for the year, both indicators have coincided with market expectations. The economy created 201,000 new jobs even though employment fell by 3,000 in manufacturing (one fears this is the leading edge of the fallout due to tariff increases). The average monthly climb in USA construction jobs so far this year has been +24,000, or +44% compared with 2017's first nine-months' average of +17,000. This is the longest period of job growth in history. Teen unemployment fell by 0.3 percent to 12.8 percent. Across education levels, unemployment rose by 0.6 percent for those with less than a high school education and by 0.3 percent for those with partial education.

Unemployment among African Americans declined three-tenths of a percent to 6 percent, close to the record low of 5.9 percent set in May. Instead, and in the absence of other indicia, there's no reason to assume that the September employment report won't be a variation on the trends that have prevailed so far this year.

Hamilton fastest in second practice at Japanese Grand Prix
Vettel managed to put 19 laps on the super-soft tyre in second practice at Suzuka , but his race pace did not appear to be as strong as Hamilton's.

Two surveys provide data for each monthly BLS jobs report.

Outpatient care centers added 1,000 jobs in September, while offices of other health practitioners added 2,000.

There were fewer jobs, however, added to the US economy in September than analysts expected. department figures showed about 134,000 new jobs for September - well below the 185,000 anticipated by experts. Fundamentally, however, I expect robust payroll growth of 205,000 and earnings growth of 2.8 percent year-over-year, which should mean an extra 8 cents an hour for workers. The most recent ISM manufacturing survey reflects concerns over trade. Economists are questioning whether an economy at a 3.7 unemployment rate will be able to add that many jobs in the next 12 months.

Ontario (+36,000) and B.C. (+33,000) accounted for all the nation's jobs rise in the latest month.

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