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Unemployment rate drops to 50-year low

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Unemployment rate drops to 50-year low

U.S. employers added fewer jobs than expected in September and wage gains slowed, adding to evidence of decelerating growth in the domestic economy. But in a sign of a still-tight labor market, the unemployment rate unexpectedly declined to a fresh five-decade low of 3.5%.

Here were the main numbers from the Department of Labor’s September jobs report, versus consensus expectations compiled by Bloomberg:

    Nonfarm payrolls: 136,000 vs. +145,000 expected and +168,000 in August

    Unemployment rate: 3.5% vs. 3.7% expected and 3.7% in August

    Average hourly earnings MoM: +0.00% vs. +0.2% expected and +0.4% in August

    Average hourly earnings YoY: +2.9% vs. +3.2% expected and +3.2% in August

Friday’s jobs report also saw August’s payroll additions upwardly revised to 168,000, from the 130,000 previously reported, and July’s job gains were revised up by 7,000 to 166,000. Combined with September’s print, the new three-month average for job gains was just under 157,000, versus about 189,000 during the same three months of 2018.

Wage gains missed expectations on both a monthly and annual basis, remaining flat between August and September. Over last year, average hourly earnings rose just 2.9%, marking the slowest pace of increases since July 2018.

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No recession, too bad for the democrats that want one.

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naturally the gop IS MUCH BETTER WITH DOMESTIC ECONOMICS NOT BEING HAMSTRUNG WITH A SOCIALIST-LIKE HATRED OF CAPITALISM LIKE THE DEMOCRATS ARE AFFLICTED WITH.

 

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The economy is slowing down, manufacturing is tanking, wages are stagnant.  This is largely due to Trump’s idiotic tariffs and trade war.  

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The unemployment rate is dropping because a significant number of women have had to enter the job market.  In the past these women may have stayed at home to raise families and so forth.

In addition, while employment is rising, wages are not.  Which is why more women have had to go to work who in the past would not have.

Bottom Line:  The economy is only getting better if you are a corporation or among the top 5% of income and wealth.

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The unemployment rate is just that, people without work / seeking jobs.  Doesn't factor in people needing to get 2 jobs or if the one's are low or high paying.  Must be realistic, there is only so low the unemployment can get.  Utilities seems to have stabilized but cost of food has risen.  

 

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