U.S. unemployment rate hits the lowest level in nearly 50 years

“The U.S. jobless rate dropped to 3.7 percent in September — the lowest since 1969, though the economy added a lower-than-expected 134,000 jobs, the Bureau of Labor Statistics said,” Avie Schneider reports for NPR. “The jobless rate fell from August’s 3.9 percent.”

“BLS noted that Hurricane Florence affected parts of the East Coast during the period that the government’s employment surveys were conducted. The leisure and hospitality sector saw a drop of 17,000 jobs last month and BLS said that the storm may have been a factor. In August, that sector saw an increase of 21,000 jobs,” Schneider reports. “In September, professional and business services grew by 54,000, transportation and warehousing jobs by nearly 24,000, construction by 23,000, manufacturing by 18,000 and health care by nearly 30,000. But retailers cut 20,000 jobs.”

MacDailyNews Take: The Amazon effect.

“The report reinforced the view of Federal Reserve policymakers, who cited a strong job market when they announced they were increasing a benchmark interest rate — the third hike in a year,” Schneider reports. “The labor market, the Fed said, ‘has continued to strengthen and … economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low.’ The Fed is forecasting the economy will grow 3.1 percent this year — that’s up from the 2.8 percent it projected in June.”

“Average earnings rose 8 cents, to $27.24 per hour last month,” Schneider reports, “with average hourly earnings up 2.8 percent from a year earlier, compared with a 2.9 percent increase in August.”

Read more in the full article here.

MacDailyNews Take: Good news for the economy and, especially, more disposable income in people’s pockets is great news for Apple! This is shaping up to be The Mother of All Holiday Shopping Seasons for The Cupertino Colossus!

35 Comments

    1. Great, Amazon is expanding. Charbocks always needs more baristas.

      Where are the good paying jobs? Nowhere to be found. The campaign rhetoric ignored the fact that the tax cuts were designed specifically to reward corporations and their executives, while the cost of living continues to erode the fortunes of the former middle class. You can cherry pick isolated statistics, but you can’t hide the full picture. Main Street ain’t feeling the economic boom that Wall Street continues to enjoy.

      https://www.newsweek.com/trump-tax-plan-wage-growth-1056660

      1. Approximately 900,000 good paying manufacturing jobs have been created under Trump. These are the jobs Obama said weren’t coming back.

        “What magic wand do you have?”

        1. Obama presided over constant job growth after the Bush implosion. Trump, like Cook, didn’t have to do anything but ride the momentum of his predecessor. Sure the stock market makes every one (except the working classes) feel flush in the short term. Tax cuts went mostly to stock buybacks, not wage growth.

          We note that you cherry pick manufacturing jobs versus total jobs. Typical political hack.

      2. This is the greatest unemployment number since 1969 accomplished under President Trump!!! And all you got is deflection sideshow BS article from the liberal media. You should be thanking the president for a job well done that benefits EVERYONE. Instead your acting like a spurned child …

  1. But but.. illegals.. I meant, “Immigrants”, and rights, and stuff, and free stuff! and killing babies, an d vegans. and all that $tupid stuff that is priority to democrats above the right of the American people to have a job to support their families.
    Great Work Mr. President. MAGA
    America First!

    1. It’s amazing what can happen when you place a bull in the establishment china shop. Equally amazing it having a leader who is actually focused on the country he is leading instead of wasting everyone’s time and money virtue-signalling ad nauseam.

      Strong, sovereign nations let diverse countries with different values, different cultures, and different dreams not just coexist, but work side by side on the basis of mutual respect.

      Strong, sovereign nations let their people take ownership of the future and control their own destiny. And strong, sovereign nations allow individuals to flourish in the fullness of the life intended by God.

      In America, we do not seek to impose our way of life on anyone, but rather to let it shine as an example for everyone to watch. – President Donald Trump’s speech on Tuesday to the United Nations General Assembly, Spetember 19, 2017

      1. Inspiring words, indeed, by Donald Trump. Mutual respect! God only knows how long we have all waited for the world’s nations to arrive at such a denouement. But then, this is itself a form of virtue-signalling, and I find myself once again with a nasty bruise from a face-palm.

  2. Now just think if crooked hillary made it to office. We’d have open borders, hand outs left and right, minimum wage to work at a mcdonalds would be like 20/bucks an hour for a job a chimp could do. GOD BLESS AMERICA AND PRESIDENT TRUMP!!!

    1. Indeed, just imagine. Spending would be up, revenues would be down. The federal deficit would be spiking.

      … oh wait, that’s what’s going on under the present administration. Ticking fiscal time bomb that nobody here wants to talk about.

      https://www.usatoday.com/story/opinion/2018/08/20/donald-trump-trillion-dollar-plus-deficits-fiscal-ruin-column/986236002/

      Thanks to Trump’s sugar high, you are all giddy now. When Trump’s CBO estimated $1.5 trillion deficit eats away the nation’s ability to invest in its future, who are you going to blame?

      1. Mike is not wrong unfortunately. Congress is opening money like crazy, and Trump is doing nothing to stop them. The idea is to lower taxes, boost the economy, either hold spending where it is or decrease it and allow the expanding economy to make up for lost revenues. It will be interesting to see if the economy is able to even remotely keep up with spending.

  3. The actual unemployment rate not counting the Military and the prison population is more like 20%, and has never been anything close to what the government says it is.

  4. Most are paid Minimum wage or slightly more than that. I guess that’s better than no job right? Just enough to eat and rent a place and no future or retirement. You’ll have to work till you die making that kind of money.

  5. Elections have consequences. Trump, Gorsuch and Kavanaugh are what happens when libturds nominate the most corrupt candidate in modern history.

    The midterms will thankfully be an explosive loss for demonrats as the country is tired of their stupidity.

    1. Speaking of libturds (demonrats), I noticed that Biden said in the 90s that the FBI doesn’t reach conclusions. Yet James Comey, while heading the FBI, created a draft letter that exonerated Hillary regarding the email issue. In other words, he “concluded” that she did no wrong.

      Of course, it gets better. He drafted this letter BEFORE talking to her!

      I have never seen such partisan political corruption in my life exposed as I have seen in the last 2 years, the vast majority of it from the left. And it appears that the FBI has been the personal police force for the DNC. The question is, for how long?

      To the FBI: I used to have the utmost respect for you.
      Now: “FUCK YOU” you fucking bunch of left-wing activists masquerading as FBI agents.
      (I know the entire force isn’t corrupt but it isn’t going to get my respect back until the clean out this left-wing activist rat-shit fecal matter).

      Wonder if these partisan hacks from the FBI that are now known DNC activists are going to get lawfully harassed when they go out to eat, shop, etc.? What a bummer if this happens… /sarc

  6. Thank you Barrack Obama.

    Hey, the dude’s ego needs stroking every now and then, otherwise we’d have to put up with the Lefts revisionist idolatry of that buffoon.

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