US Jobless Rate at Lowest Since 1969

In late November, the Labor Department reported the US jobless rate was at its lowest since around 1969. President Donald Trump celebrated the news, tweeting that the jobless rate has been “at its lowest since 1969.” While the report showed that 134,000 people were unemployed in September, the numbers were well below the consensus estimate of 182,000. However, there is a reason for the low September unemployment figure: Hurricane Florence may have discouraged some companies from hiring during the fall

Lowest level since

The unemployment rate in the US fell last week to 3.9 percent, the lowest level since February 2020. This reflects a fast-recovering economy and a robust demand for labor. The latest figures indicate that the jobless rate will continue to decline over the next few months, although it is still slightly above its pre-crisis levels. This fall is a positive sign for the recovery in the jobs market, and the Federal Reserve is likely to keep emergency-level policies in place to support the

In Finally

The Labor Department also reported that the number of new jobless claims dropped to the lowest level in 52 years. Last week’s total of 199,000 was far below the previous low of 270,000. The drop in new filings could be a sign of a growing economy, especially in a tightening labor market. It is possible that the US jobless rate will continue to fall in the coming months

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