Published: Mon, October 08, 2018
Markets | By Erika Turner

US Unemployment Rate Drops To 3.7 Percent, Lowest Rate Since 1969

US Unemployment Rate Drops To 3.7 Percent, Lowest Rate Since 1969

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.

Starting from this year, the Ministry of Labor is developing a balance of labor resources, job placement and employment of the population, survey among households on employment issues, as well as determining of the number of people who need job in accordance with the decision of the Cabinet of Ministers dated December 22, 2017. This suggests that the tax cuts that took effect this year are boosting job opportunities.

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Some of Mr Abubakar's challengers have conceded defeat and congratulated him as well. Coming a distant third was the President of the Senate, Dr.

Average hourly earnings of private-sector workers rose 2.8 percent to 27.24 dollars in September from a year ago, said the department. This probably won't be the month to learn that lesson, however. As business demand for workers continues to rise, attractive wages and benefits are luring a growing number of persons from the sidelines back into the workforce (See "Rising US prime working-age labor participation"). For close to two-thirds of the U.S. population, this is the lowest unemployment rate in their lifetime. It also stands that wage growth has not increased and wage inequality has not narrowed, a further sign that numerous newly crated jobs fall within less secure sectors of the economy.

The Bureau of Labor Statistics reported today that the number of unemployed workers in the oil and gas extraction industry from September 2017 to September 2018 has decreased from 24,000 to 13,000 unemployed. But despite the lower jobless rate, non-farm employers added just 134,000 net new positions, far weaker than analysts expected.

The September results were 25 percent below what economists had forecast. A separate report from the Commerce Department showed that the USA trade deficit widened in August, reflecting an increase in imports and a decrease in exports. Friday's report revised August's count of new jobs from 201,000 to 270,000, while July's tally was revised from 165,000 new jobs. Ambulatory healthcare services added 10,300 jobs in September, while nursing and residential care facilities added 3,400 jobs.

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