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US Unemployment Falls to 50-year Low of 3.5% in September

Unemployment fell two tenths to 3.5 percent, matching the jobless rate last recorded in 1969, and well below what analysts had forecast.

AFP

Updated:October 4, 2019, 6:27 PM IST
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US Unemployment Falls to 50-year Low of 3.5% in September
(Cartoon by Mir Suhail)

Washington: America's jobless rate tumbled in September to its lowest level in 50 years, helping assuage fears of an economic slowdown, according to government data released Friday.

But although job creation continued, the pace was more subdued and wages were flat.

Unemployment fell two tenths to 3.5 percent, matching the jobless rate last recorded in 1969, and well below what analysts had forecast.

Employers added a total of 136,000 net new positions, below expectations, with notable slowdowns in education, government, finance and business services.

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