Friday, 19 October, 2018

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

U.S. Employment Rises Much Less Than Expected In September Slower Than Expected Job Growth in September
Elsie Buchanan | 08 October, 2018, 06:24

The Bureau of Labor Statistics reported Friday that the economy created 134,000 seasonally adjusted new jobs in September.

Analysts polled by Refinitiv (formerly Thomson Reuters) forecast that the US economy would add 185,000 jobs in September with the unemployment rate ticking down to 3.8 percent.

However, the report also showed a significant upward revision to the pace of job growth in August, with employment spiking by 270,000 jobs compared to the originally reported jump of 201,000 jobs.

"The unemployment rate fell two-tenths of a percentage point to 3.7 percent, the lowest level since December 1969 and one-tenth of a percentage point below expectations", writes CNBC.

Just out: 3.7% Unemployment is the lowest number since 1969!

The average hourly wage in the U.S. last month increased by 0.3% compared to August and by 2.8% in annual terms, both indicators have coincided with market expectations.

Open And Shut: A’s Out Early Again With Wild-Card Loss
Now the real postseason can begin. "Early in the game they're going to be loud". NY also swept the A's 3-0 in the 1981 ALCS. "The first run is big".


The unemployment rate among young people (under 30) was 15.9 percent, the unemployment rate among women was 13.4 percent.

Hurricane Florence, the storm that made landfall along the mid-Atlantic US coast on September 14, caused widespread disruption for homes and employers but it was not possible to determine the extent to which this might have depressed the September jobs numbers, officials said.

Dow Jones Industrial Average declined 180.43 points or 0.68 percent to 26,447.05, Nasdaq slipped 91.06 points or 1.16 percent to 7,788.45 and the S&P 500 was down by 16.04 points or 0.55 percent to 2,885.57.

Economists forecast another robust month of job gains. Job gains occurred in professional and business services, in health care, and in transportation and warehousing. Bond prices fall when yields rise.

Some measures showed the labor market may still have some room for further improvement. Then, thanks to an Obama-initiated economic stimulus that some Democrats labeled necessary but inadequate, and 90 percent of Republicans flat-out opposed, the number of available jobs grew steadily, albeit with excruciating slowness over the next six years. Teen unemployment fell by 0.3 percent to 12.8 percent.

As a result, the Fed is all but guaranteed to stick to its plan of raising rates four times before the end of next year, he added.

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