Unemployment Rate Falls 3.7%, a 49-Year Low

Modal Trigger					
				AP

The African-American unemployment rate went from 6.3 percent to 6 percent, the second lowest on record behind 5.9 percent in May, according to the U.S. Labor Department who released the report on Friday.

U.S. non-farm payrolls increased by 134,000 jobs last month, the fewest in a year, as the retail and leisure and hospitality sectors shed employment.

However, overall, the economy added a lower number of jobs than expected.

Significant jobs growth was seen in professional and business services, healthcare and construction. Average hourly earnings rose 2.8 percent over the year, slightly above the average over the past year but down from last month's increase. They added 87,000 jobs to the two months combined, most of those in August, which went from 201,000 jobs added to 270,000. A category that includes restaurants, hotels and casinos lost jobs for the first time since last September, when Hurricane Harvey exerted a similar effect.

Hurricane Florence affected parts of the East Coast during the September reference periods for the surveys for payrolls and the national unemployment rate, the Labour Department said in a special note Friday. Many Americans will be looking at the employment rate, especially with the midterm elections coming in November.

A rising number of companies are converting part-timers who have wanted more hours to full-time workers and are posting more full-time jobs.

US Federal Reserve Chairman Jerome Powell said earlier this week that the economy's outlook was "remarkably positive" and he believed it was on the cusp of a "historically rare" era of ultra-low unemployment and tame inflation.

Cubs, Rockies meet for NL wild card after losing tiebreakers
The Athletics are expected to counter with a bullpen game, led by Liam Hendriks in the first inning. In four starts for Milwaukee, he has gone 2-0 with a 2.66 ERA, striking out 20 in 20 1/3 innings.

Rohingya Refugees to be Deported to Myanmar, Supreme Court Clears Decks
According to official sources, the Rohingya reached Moreh town around 10.30 am on a special bus under heavy security escort. An official said that Myanmar diplomats were given consular access, and that the identity of the immigrants were confirmed.

Manchester United Set To Fire Jose Mourinho
The former Chelsea manager has clashed with a couple of players including Anthony Martial , Paul Pogba , Alexis Sanchez and captain Antonio Valencia .

"Given the fact that the job market has been so strong for so long, there is an expectation that labour will begin to take more of the capital from corporate profits going forward", said Michael Arone, the chief investment strategist for the US SPDR business at State Street Global Advisors.

The OECD suggested a number of reasons, including what president Trump and many others have called the opioid crisis - the widespread misuse of and addiction to certain prescription drugs.

Economists say there is no indication the labor market is expected to weaken anytime soon.

Economists polled by Reuters had forecast payrolls increasing by 185,000 jobs in September and the unemployment rate falling one-tenth of a percentage point to 3.8 percent. But even then, unemployment only fell to 3.8 percent in April 2000. In 2018 so far, manufacturing has added 278,000 jobs.

Washington last month slapped tariffs on $200 billion worth of Chinese goods, with Beijing retaliating with duties on $60 billion 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 Sates.

Private employment rose by 121 000, compared with a median estimate of 180 000. But wage increases so far have been modest, something that puzzles economists but allows the Fed to move gradually.

Related News:



Most liked

Saudi journalist Jamal Khashoggi 'was killed inside Saudi consulate'
Khashoggi, who has lived in self-imposed exile in the US for the past year , vanished Tuesday while on a visit to the consulate. The Committee to Protect Journalists said it was alarmed by reports Khashoggi may have been killed inside the consulate.

Conor McGregor brands Khabib Nurmagomedov 'petrified' ahead of UFC 229
On the other, you have an undefeated fighter who has never lost a single round in his professional career in Khabib Nurmagomedov . EVEN for Conor McGregor , this was freaky . "I'm going to settle this the noble way for myself and see what happens after that.

Melania Trump in Egypt to tour pyramids, Sphinx
Melania Trump may prefer that people focus on her work rather than her wardrobe, but that's tough in the age of Twitter . It was her first major solo trip overseas and a rare example of a time when she has answered questions by reporters.

NLDS Game 1 Highlights: Rockies vs. Brewers | Stadium
Kluber, a two-time Cy Young victor who was coming off his first 20-win season, was tagged for three home runs in 4 2/3 innings. Iannetta had an RBI opportunity with a runner on third and nobody out in the top of the seventh of a 1-0 game.

Storm Michael could soon form, hit US midweek
The storm system forming in the southeastern Gulf of Mexico may be nothing, forecasters say. Maximum sustained winds of the storm were reported at 80 miles per hour with higher gusts.

President Pence accuses China of meddling in US
While the clause does not mention China specifically, the provision is being widely seen as an attempt to single out Beijing. Trade Representative's stern and ardent support of the U.S. dairy industry ", said Ryan.

Pep Guardiola Gives Update On Kevin De Bruyne Injury
During his press conference Pep confirmed he could welcome back his star man, Kevin De Bruyne this weekend. "Everybody is okay. In the end, it's the teams and the clubs that win the game. "Obviously we won the last three games against City".

Senate votes Friday in first step to possible Kavanaugh confirmation
Vice President Mike Pence has planned to be available Saturday in case his tie-breaking vote was needed, which now seems unlikely. He also said Mr Trump had "stooped to new depths" in mocking the testimony of Mr Kavanaugh's accuser, Christine Blasey Ford .

Nafta: US and Canada reach new trade deal
The new United States-Mexico-Canada Agreement indeed contains greater worker protections, a tradeoff that could mean higher costs. Jim Balsillie, the former co-chief of Research in Motion, said NAFTA might have a new name, but retains the same old flaws.

Elon Musk Insults SEC After Settlement, Calls It Shortseller Enrichment Commission
The SEC declined to comment about the latest tweet, and a spokesperson for Tesla was not immediately available for comment. Federal courts have rejected SEC settlements in the past if the judge thinks they are too lenient, the report added .

Man in custody following threats tied to Van Dyke trial, police say
A judge has decided against taking a Chicago police officer on trial for murder into custody for being late to a court hearing. Northwestern MSA said on Twitter they were making spaces available Friday night and over the weekend for students to gather.

5 officers shot in SC , police say suspect is in custody
Authorities have identified Hopkins as the suspect in the shootings of seven law enforcement officers in Florence Wednesday. Hopkins was also charged with six other counts of attempted murder after injuring six other police officers.

Banksy Artwork Shreds Itself Moments After Record Sale At Auction
For an artist that's known for his stunts, this could be Banksy's most ideal art world prank. Branczik also said he was "not in on the ruse", which really takes it to that next level.

Back to Earth: Astronauts Touch Down in Kazakhstan
At 13:51 the engines of Soyuz MS-08 will be turned on to slow down the spacecraft and send it into descent. In total Feustel now has almost 62 hours on spacewalks and Arnold has tallied over 32 hours.

India, Russia revisiting the rupee-ruble arrangement
That spokesperson declined to say definitively whether or not the USA would consider punishing India for the purchase. This would pave way for uninterrupted economic, trade and defence cooperation between the two countries.