US Unemployment Rate Falls To 49-Year Low Of 3.7 Percent

A bilingual help wanted sign for Auto Zone, a retailer of aftermarket automotive parts and accessories, is posted outside the store in Canton, Miss., Thursday, Sept. 27, 2018. The central Mississippi city has a growing Spanish-speaking population and some merchants are actively recruiting bilingual counter help. (AP Photo/Rogelio V. Solis)
FILE- In this Sept. 27, 2018, file photo a bilingual help wanted sign for Auto Zone, a retailer of aftermarket automotive parts and accessories, is posted outside the store in Canton, Miss. Another healthy picture of... FILE- In this Sept. 27, 2018, file photo a bilingual help wanted sign for Auto Zone, a retailer of aftermarket automotive parts and accessories, is posted outside the store in Canton, Miss. Another healthy picture of hiring is expected when the U.S. government issues its September jobs report Friday, Oct. 5. (AP Photo/Rogelio V. Solis, File) MORE LESS
|
October 5, 2018 8:36 a.m.

WASHINGTON (AP) — The U.S. unemployment rate fell to 3.7 percent in September, the lowest level since December 1969, as the longest streak of hiring on record has put millions of Americans back to work since the Great Recession.

The Labor Department says employers added just 134,000 jobs, the fewest in a year, though that figure was likely lowered by Hurricane Florence. The storm struck North and South Carolina in the middle of September and closed thousands of businesses. A category that includes restaurants, hotels and casinos lost jobs for the first time since last September, when Hurricane Harvey had a similar effect.

Even with unemployment at a historic low, average hourly pay increased just 2.8 percent from a year earlier, one tick below the yearly gain in August.

Introducing
The TPM Journalism Fund: A New Way To Support TPM
We're launching the TPM Journalism Fund as an additional way for readers and members to support TPM. Every dollar contributed goes toward:
  • -Hiring More Journalists
  • -Providing free memberships to those who cannot afford them
  • -Supporting independent, non-corporate journalism
Are you experiencing financial hardship?
Apply for a free community-supported membership
Comments
advertisement
Masthead Masthead
Founder & Editor-in-Chief:
Executive Editor:
Managing Editor:
Senior Editor:
Special Projects Editor:
Editor at Large:
General Counsel:
Publisher:
Head of Product:
Director of Technology:
Associate Publisher:
Front-End Developer:
Senior Designer:
SPECIAL DEAL FOR PAST TPM MEMBERS
40% OFF AN ANNUAL PRIME MEMBERSHIP
REJOIN FOR JUST $30