U.S. economy added just 136,000 jobs in September, in fresh sign economy is cooling

[mahatmakanejeeves]

4. WH statement. Read it quickly, as they mistakenly included charts that go back to 1990 and 1992.

Whoever made that mistake will be out of a job soon.

Good morning, and thanks for the thread.

ECONOMY & JOBS

U.S. Unemployment Rate Falls to 50-Year Low
October 4, 2019 4 minute read

Council of Economic Advisers

Today, the Bureau of Labor Statistics (BLS) released its monthly Employment Situation Report, which shows robust employment growth in September. Job gains are particularly noteworthy considering that the United States is in the midst of the longest economic recovery in its history.

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Additionally, the unemployment rate for people without a high school diploma fell to 4.8 percent, the lowest rate since the series began in 1992 and much lower than the 7.8 percent rate in November 2016 (figure 1). Since President Trump’s election, the unemployment rate for those without a high school degree has fallen at a faster rate than the unemployment rate for those with a bachelor’s degree or higher. The decrease has narrowed the gap between the unemployment rate for non-high school graduates and the unemployment rate for college graduates to 2.8 percentage points, matching the lowest gap ever seen in the series.



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In the third quarter of 2019, 73.7 percent of workers entering employment came from out of the labor force rather than from unemployment, the highest share since the series began in 1990 (figure 2). In an encouraging sign that people previously on the sidelines will continue entering the workforce, more than 300 companies have signed the Pledge to America’s Workers. These companies pledged to create upwards of 14 million new job and training opportunities through education and reskilling initiatives for current and future employees over the next 5 years.



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With a 50-year low for the unemployment rate and consistent job gains, the September employment data make it clear that the American labor market remains historically strong.