By: Ted Patterson
The U.S. unemployment rate has hit a 50-year low.
A new Bureau and Labor Statistics report shows, “The unemployment rate declined to 3.5 percent in September, and total nonfarm payroll employment rose by 136,000, the U.S. Bureau of Labor Statistics reported today. Employment in health care and in professional and business services continued to trend up.”
MarketWatch reports the unemployment rate is now “the lowest rate since December 1969. The number of unemployed people fell by 275,00 over the month [of September].”
Why It Matters:
A stronger economy generally leads to a higher standard of living for everyone. The new jobs report will also give President Trump some more fodder for his presidential accomplishments.
“The resilience seen in the September job report will raise hopes that the economy can avoid a recession. Although manufacturing activity and business investment have been weak, consumer spending has held up well.”
Ted Patterson is editor of Republic Press.