In collatch, they learned me that “full employment” was about 4.5 percent. But they didn’t know about Trump full employment, which is at 3.7 percent or lower.
That’s what the rate was in September. I know – let’s impeach him. That will get the unemployment rate back up!
From the Wall Street Journal:
The unemployment rate fell to 3.7% from 3.9% in August, the lowest rate since December 1969, the Labor Department said Friday.
U.S. nonfarm payrolls rose a seasonally adjusted 134,000 in September, the smallest gain in a year and a possible sign employers are starting to struggle to fill jobs. Wages increased last month and advanced 2.8% from a year earlier.
Economists surveyed by the Wall Street Journal had expected 180,000 new jobs and a 3.8% unemployment rate.
The Labor Department said it’s possible that employment in some industries was affected by Hurricane Florence, which struck the Carolinas last month. But the department couldn’t quantify the impact. It said response rates to September surveys were within normal ranges.
Revised figures show employers added 270,000 jobs in August and 165,000 in July, a net upward revision of 87,000. Through the first nine months of the year, employers added an average of 211,000 workers to payrolls each month, well outpacing 2017’s average monthly growth of 182,000.
Let me respond to Barack Obama’s claim that this is all on him: YOU DIDN’T BUILD THAT.
Nevertheless, the workforce participation rate remains much too low, in part accounting for today’s unemployment rate.
Last month, 150,000 Americans entered the labor force, keeping the share of American adults working or looking for work steady at 62.7%.
While unemployment is historically low, the labor-force participation rate is just above multidecade lows. The rate is up slightly from a recent low of 62.3% in 2015, but still near the smallest share of adults participating since the late 1970s, a time when women were still entering the workforce in greater numbers.