September NFP +134K, Unemployment 3.7%

The jobs report is out. The US economy created 134,000 new new jobs last month. The unemployment rate fell to 3.7%. That’s the lowest since December 1969. Revisions added another 87,000 to nonfarm payrolls. Labor force participation rate was 62.7%.

A separate measure of unemployment that includes discouraged workers and those holding jobs part-time for economic reasons — sometimes called the “real unemployment rate” — edged higher to 7.5 percent.

Unemployment among black Americans declined three-tenths of a point to 6 percent, slightly above its record low of 5.9 percent achieved in May.

The closely watched average hourly earnings component showed a 2.8 percent year-over-year increase, in line with Wall Street estimates. The average work week was unchanged at 34.5 hours.

After the report, the 10-year Treasury yield climbed to the highest in seven years.

Posted by on October 5th, 2018 at 8:37 am


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