Unemployment rate drops to 3.7 percent - lowest since 1969
Unemployment rate drops to 3.7 percent - lowest since 1969
Pat Greenhouse Globe Staff Workers at a construction site in Revere
07 October, 2018, 18:14
The U-6, or underemployment rate, rose to 7.5% from 7.4%. September's unemployment rate has decreased or remained the same every year since it hit a high of 9.8 percent in 2009.
"For years now we have continued to cross fingers and say more substantial wage growth soon", said Mark Hamrick, Bankrate.com senior economic analyst. Almost 300,000 workers told the BLS that bad weather kept them away from their jobs, most likely in industries like hospitality in which they're paid only if they show up.
The Labor Department said it was "impossible to quantify" the hurricane's net effect on employment. North said the numbers indicate that employers are requiring the people they already have on their payrolls to work longer hours each week.
Most analysts blamed the slower pace of hiring last month on Florence, which struck North and SC and closed thousands of businesses. Wage growth entered this year at 2.9% in January and remained the same last month on a year-over-year basis.
(Kitco News) - Gold prices are holding relatively steady, hovering above the psychological level of $1,200 an ounce as the US labor market showed a mixed picture last month. And the unemployment rate could rise or - as other unemployed workers find jobs - stay the same. The August reading was the highest since February. September marked the third straight month of unemployment below 4 percent.
Average hourly earnings rose 0.3% from the prior month, matching estimates, following a downwardly revised 0.3% gain, the report showed. Overall government payrolls increased by 13 000.
"The momentum in the labor market remains strong and we expect the unemployment rate to continue to decline", said John Ryding, chief economist at RDQ Economics in NY. Economists had penciled in some cooling in the year-over-year results, as a strong number for September 2017 wages presented a hard comparison. Households are saving almost 7 percent of their incomes - more than twice the savings rate before the recession.
With September's increase below the 0.5% gain recorded during the same time last year, that lowered the annual increase in wages to 2.8% from 2.9% in August, which was the biggest rise in more than nine years.
With unemployment so low, companies are facing intense pressure to raise pay to land workers. So any hourly workers who weren't paid during the survey period because Florence forced their employer to close temporarily wouldn't have been counted as employed during September.
Shipments of core capital goods, which are used to calculate business equipment spending in the gross domestic product report, dropped 0.2 percent in August instead of rising 0.1 percent as reported last month.
The number of unemployed people who have given up looking for jobs because they believe that none are available was the same as it was in September 2017. The employment- population ratio, another broad measure of labour-market health that central bankers like to watch, rose to 60.4% from 60.3%.
It's time for clash of the season, as Liverpool takes on Manchester City . both teams are only separated by a margin of six goals. Defensive stability is something Liverpool have managed this season when you compare this team to last season's outfit.
Authorities earlier allowed desperate villagers to grab food supplies from shops but have warned them not to take other things. Yesterday, Australia said it was sending a medical team to the disaster zone and providing an additional US$5 million in aid.
Kinzelbach also urged Interpol to issue a yellow notice - a global alert used to help locate missing persons - on Meng's behalf. She was initially quoted by police sources as saying she had not heard from him since his departure on 29 September.
In his 12 years on the federal bench, Judge Kavanaugh has produced ample evidence of his judicial temperament. Roche later issued a lengthier statement describing Kavanaugh as a heavy drinker in college.
Mark Hughes feels Eden Hazard will have to wait until he has grey hair to be considered Chelsea's greatest ever player. He is a player that has many good sides to him. "I think now it's better for him to stay to work".
In comments responding to the statement on Facebook , Gilbert residents shared stories of erratic bird behavior. The reason, authorities said, is an early frost that sped up the fermenting process of local berries.
The committee said: "She has shown uncommon courage in recounting her own sufferings and speaking up on behalf of other victims". At the age of 23, she was named the U.N.'s first Goodwill Ambassador for the Dignity of Survivors of Human Trafficking.
The former England full-back added: "Eventually I've got to stand up and say, "look, I'm not good enough to do this". Jose Mourinho is unable to control his squad with some players wanting him to be sacked immediately.
Q3 proves profitable for Samsung and LG Electronics
The third-quarter operating profit of the chip business is expected to have hovered above 13 trillion won for the first time ever. LG Electronics said on October 5 its third-quarter operating profit moved up 44.4 percent on-year.
Tropical Depression could form by late this weekend
Invest 91 L has been given an 80% chance of development within the next 2 days, and a 90% chance within the next 5 days. Western Cuba can expect 3 to 7 inches of rain, with 12 inches possible in some areas, according to the center.
Spanish opera singer Montserrat Caballe dead at 85
She was admired around the world for her versatility and as one of the greatest opera stars to have graced the stage. During her carrer, Montserrat starred in 90 opera roles with almost 4,000 stage performances.
May appeals for party unity at 'toughest phase' of Brexit
May's unexpectedly disarming conference speech followed, exhorting the party to come together, or Brexit is at risk. Mrs May is expected to tell delegates she "passionately believes" Britain's best days lie ahead after Brexit .
Will Kavanaugh vote match closest in history?
Steve Daines to stay at his daughter's wedding in his home state instead of flying to Washington to cast his supporting vote. Lisa Murkowski explained her decision Friday to oppose the confirmation of Judge Brett Kavanaugh to the Supreme Court.