Not since 1969: US regains ultra-low 3.7 percent unemployment
Not since 1969: US regains ultra-low 3.7 percent unemployment
U.S. Unemployment Rate Drops To 3.7 Percent, Lowest In Nearly 50 Years
07 October, 2018, 18:16
Data for July was revised to show the trade deficit rising to US$50.0 billion, instead of the previously reported US$50.1 billion.
So far this year, the average number of jobs created each month is 16 percent higher than last year.
"Every month for the past year, the.wage data releases have continued to demonstrate that workers simply aren't getting ahead", Ryan Nunn and Jay Shambaugh of the Brookings Institute, a think tank, said in a report out this week.
The headline of today's employmentreport is the drop in the unemployment rate to 3.7%, the lowest rate since December 1969. With the unemployment rate so low, companies are facing intense pressure to boost pay to find the workers they need.
Many economists have forecast that Hurricane Florence, which flooded parts of North and SC last month, depressed September's job growth by roughly 30,000. It said it was impossible to quantify the net effect on employment.
The rate remained unchanged in September at 62.7 percent of eligible workers in the workforce, down from a pre-recession rate of 66 percent.
Geography, the skills gap, the opioid epidemic, more people going to college and a lack of family leave policies aimed at encouraging women to enter the labor force could all be contributing to the low rate.
The number of Americans filing for unemployment benefits fell to a near 49-year low last week, pointing to sustained labor market strength, which should continue to underpin economic growth.
The weakness in payrolls last month is not corroborated by other labor market data. The dollar .DXY was little changed against a basket of currencies, while stocks on Wall Street were trading lower.
India vs West Indies, 1st Test Prithvi Shaw becomes the second youngest Indian to score a maiden test ton after the legendary Sachin Tendulkar . Both Keemo Paul and debutant Sherman Lewis kept on bowling outside off making Shaw's life slightly easier.
This is only the tenth month since 1970 that the unemployment rate has been recorded below four per cent, with five of these months occurring in 2018, it said.
Average earnings rose 8 cents, to $27.24 per hour last month.
Average hourly earnings rose at an annual rate of 2.8 percent in September, down from 2.9 percent in August.
Wages have grown 2.8 percent over the a year ago, down from last month's estimate of 2.9 percent.
Economists will also be eyeing the all-important wage figures, as a tightening US labor market has pushed pay higher. Amazon responded on Tuesday by raising its minimum wage to $15 an hour. Overall government payrolls increased by 13 000. Manufacturers expanded their payrolls by 18,000.
Details across industries showed construction payrolls rose by 23 000 and manufacturing added 18 000 jobs.
While surveys have shown manufacturers growing more concerned about an escalating trade war between the U.S. and China, that does not appear to have affected hiring. In fact, the Fed's latest survey of national business conditions reflected concerns about labour shortages that are extending into non-skilled occupations as much as about tariffs.
Washington last month slapped tariffs on $200 billion worth of Chinese goods, with Beijing retaliating with duties on $60bn worth of USA products. The Trump administration has imposed tariffs on imported steel and aluminum as well as on roughly half of China's imports to the United States.
The greenback also shot to its highest so far this year on the yen and an all-time high against the Indian rupee. He said: "You can not wish away the depreciation in the rupee if you are a current account deficit country".
It took less than a day, but players have already figured out how to hack the Nintendo Switch Online platform. NES - Nintendo Switch Online: For the first time ever, players will be able to enjoy NES games online.
Had Spurs had a fully fit squad to choose from, they could have nicked a point against Barcelona, or maybe even more. You weren't supposed to be watching him, Kieran, you were supposed to be trying to tackle him.
The Saudi crown prince downplayed any apparent rift with the U.S. leader and said relations between the two allies remain strong. And Saudi Arabia and OPEC and non-OPEC countries, they've produced 1.5 million barrels a day.
But Kepler 1625b and its moon are gaseous - not rocky - so such a collision may not lead to the condensation of a satellite. The research team hopes to take another look at the star next May, if there is time available on the Hubble .
Stevens also noted on Thursday that the partisan political influence over the high court was "worse" than ever. But, he added, "I've changed my views for reasons that have no relationship to his intellectual ability".
Kavanaugh's op-ed in The Wall Street Journal was published on the eve of a key procedural vote in the Senate on his nomination. Republicans hold 51 seats in the Senate and changed Senate rules a year ago to end filibusters for Supreme Court nominees.
To bring some relief to citizens, three states had reduced fuel rates in August, including West Bengal. It is to be noted that the Maharashtra government has reduced the price of petrol only and not diesel.
Also on the agenda is Russian training for Indian astronauts as New Delhi aims to launch its first crewed space mission in 2022. For the 19th Annual Bilateral Summit, Russian President Vladimir Putin will arrive in New Delhi today.
He said the investigation was thorough , and for the witnesses interviewed "it's a cross between an endoscopy and a colonoscopy". Mazie Hirono , D-Hawaii, deflected, saying , "This is not a comprehensive FBI investigation on which we can draw conclusions".
More importantly, Shaw had the confidence of several hundreds under his belt when he walked out to bat for India Thursday morning. Rishabh Pant (17) and skipper Virat Kohli (72) were at the crease when umpires dislodged the bails for the day.
There are facts that she can not remember: "how she got home, how she got there, where the house was, what the date was". Judge, identified by Ford as a witness to the alleged assault, has denied any memory of such an incident.
Debbie Ramirez releases statement ahead of Kavanaugh vote
Roche says he believes his friend Deborah Ramirez, who has accused Kavanaugh of exposing himself to her at a college dorm party. The issue in Kavanaugh's situation, Roche said, is not that the judge might have exhibited unbecoming behavior while drunk.
Liverpool vs Manchester City Preview
With the ball, again the timing was not good because we felt under pressure when there was no pressure. I suspect he won't change and will hope Klopp's side are exhausted from the midweek trip to Napoli .
Time running out as Indonesia toll tops 1,400
Rescue efforts have been hampered by a lack of heavy machinery, severed transport links and the scale of the damage. Worldwide volunteers said many camps lack adequate sanitation, sparking fears of the spread of disease.
Mike Pompeo To Meet Kim Jong Un In North Korea On Sunday
Pompeo is heading back to North Korea for another round of talks aimed at getting Kim Jong Un to give up nuclear weapons. North Korea's state newspaper Rodong Sinmun called the sanctions "rude" in light of its conciliatory measures.
The new Nokia 7.1 comes to the US , price starts at $349
Also, the smartphone may have launched with Android 8 .1 Oreo, but the Android 9 Pie update is under final stages of development. Since its an Android One device, the Nokia 7 .1 will get three years of monthly security patches and two years of OS updates .
Wireless Emergency Alerts Sound In Hawaii
The political purposes point is especially important, he noted , since people can not opt out of the presidential alert . Americans went nuts on Wednesday when they received a startling message on their phones titled " Presidential Alert ".
Turkey's Erdogan refuses to release American pastor
Tensions eased somewhat after several high-profile German-Turkish nationals were released this year, but five remain behind bars. The pastor, who rejects the charges, had been jailed until he was released to home detention on July 25 for health reasons.
UB40 Want Nothing to Do With Brett Kavanaugh
Asked whether Mr Trump's comments would affect her vote, Senator Murkowski told reporters, "I am taking everything into account". The letter also says Kavanaugh gave "intemperate, inflammatory" responses and was "discourteous" to senators.