The U.S. economy added 136,000 jobs, and the unemployment level declined to 3.5 percent, the lowest level in 50 years — since December 1969.
And who was president then? Richard Nixon. So let’s impeach President Trump too, why would we want to continue letting the good times roll?
According to the Wall Street Journal:
Many workers who didn’t reap economic gains earlier in the decadelong expansion are now experiencing record-low levels of unemployment, including the underemployed, those without a high school diploma and Hispanic men.
“The U.S. labor market remains resilient and continues to create new opportunities for Americans—despite slowing global growth and the introduction of new tariffs,” said Julia Pollak, a labor economist for ZipRecruiter, a job-recruiting firm.
Average hourly earnings climbed 2.9% from September 2018, a pullback from previous months but still higher than inflation.
Health care, transportation and business-service sectors added jobs at a robust clip in September. Payrolls for August and July were revised up by a combined 45,000.
Manufacturers, though, cut employment last month, providing further evidence that the factory sector is on shaky footing. Faltering manufacturing has been a key factor behind a slowdown in global growth over the past year.
The jobs increase is actually just fair, though, and the Fed may well lower interest rates again soon.