Unemployment reaches lowest level since 1969
The unemployment rate declined to 3.5% in September as total nonfarm payroll employment rose by 136,000, the U.S. Bureau of Labor Statistics reported today.
In September, the unemployment rate declined by a 0.2 percentage point. The last time the rate was this low was in December 1969 when it also reached 3.5%. Over the month, the number of unemployed persons decreased by 275,000 to 5.8 million.
Total nonfarm payroll employment increased by 136,000 in September. Job growth has averaged 161,000 per month in 2019, compared with an average monthly gain of 223,000 in 2018.
Employment in transportation and warehousing edged up in September by 16,000 positions. Within the industry, job growth occurred in transit and ground passenger transportation (+11,000) and in couriers and messengers (+4,000).
Retail trade employment was down 11,000 in September. Within the industry, clothing and clothing accessories stores lost 14,000 jobs, while food and beverage stores added 9,000 jobs. Since reaching a peak in January 2017, retail trade has lost 197,000 jobs.
Residential construction employment increased by 3,400 in September. Total construction industry (both residential and nonresidential) employment totaled about 7.5 million in September.
In September, average hourly earnings for all employees on private nonfarm payrolls, at $28.09, were little changed, after rising by 11 cents in August. Over the past 12 months, average hourly earnings have increased by 2.9%. In September, average hourly earnings of private-sector production and nonsupervisory employees rose by 4 cents to $23.65.
The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in September. In manufacturing, the average workweek and overtime remained at 40.5 hours and 3.2 hours. The average workweek of private-sector production and nonsupervisory employees held at 33.6 hours.
The Bureau of Labor Statistics also reported that the change in total nonfarm payroll employment for July was revised up by 7,000 from a 159,000 gain to an increase of 166,000, and the change for August was revised up by 38,000 from a rise of 130,000 to an increase of 168,000.
With these revisions, employment gains in July and August combined were 45,000 more than previously reported.
In September, the unemployment rate declined by a 0.2 percentage point. The last time the rate was this low was in December 1969 when it also reached 3.5%. Over the month, the number of unemployed persons decreased by 275,000 to 5.8 million.
Total nonfarm payroll employment increased by 136,000 in September. Job growth has averaged 161,000 per month in 2019, compared with an average monthly gain of 223,000 in 2018.
Employment in transportation and warehousing edged up in September by 16,000 positions. Within the industry, job growth occurred in transit and ground passenger transportation (+11,000) and in couriers and messengers (+4,000).
Retail trade employment was down 11,000 in September. Within the industry, clothing and clothing accessories stores lost 14,000 jobs, while food and beverage stores added 9,000 jobs. Since reaching a peak in January 2017, retail trade has lost 197,000 jobs.
Residential construction employment increased by 3,400 in September. Total construction industry (both residential and nonresidential) employment totaled about 7.5 million in September.
In September, average hourly earnings for all employees on private nonfarm payrolls, at $28.09, were little changed, after rising by 11 cents in August. Over the past 12 months, average hourly earnings have increased by 2.9%. In September, average hourly earnings of private-sector production and nonsupervisory employees rose by 4 cents to $23.65.
The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in September. In manufacturing, the average workweek and overtime remained at 40.5 hours and 3.2 hours. The average workweek of private-sector production and nonsupervisory employees held at 33.6 hours.
The Bureau of Labor Statistics also reported that the change in total nonfarm payroll employment for July was revised up by 7,000 from a 159,000 gain to an increase of 166,000, and the change for August was revised up by 38,000 from a rise of 130,000 to an increase of 168,000.
With these revisions, employment gains in July and August combined were 45,000 more than previously reported.