September 2018 Unemployment Rate Falls to 3.7%, Falls to the Lowest Rate Since 1969

LOWEST UNEMPLOYMENT RATE IN 49 YEARS …

As reported at CNBC, the unemployment rate fell two-tenths of a percentage point to 3.7% . This is the lowest since December 1969 and one-tenth of a percentage point below expectations. Nonfarm payrolls rose by 134,000.  Also, August’s initial jobs count was revised up dramatically, from 201,000 to 270,000, while July’s numbers came up as well, from 147,000 to 165,000.

Job creation for September fell to its lowest level in a year though the unemployment rate dropped to a point not seen in nearly 50 years, according to Labor Department figures released Friday.

Nonfarm payrolls rose just 134,000, well below Refinitiv estimates of 185,000 and the worst performance since September 2017 when a labor strike weighed on the numbers. The unemployment rate fell two-tenths of a percentage point to 3.7 percent, the lowest since December 1969 and one-tenth of a percentage point below expectations.