The U.S. unemployment rate dropped to 3.5%, the lowest rate since December 1969.
The numbers: The economy added 136,000 new jobs in September, the government said Friday. Economists polled by MarketWatch had forecast a 150,000 increase.
One dark spot in the report was that the increase in worker pay over the past 12 months fell to 2.9% from 3.2%. Average hourly earnings were little changed in September following an 11-cent gain in August. Big picture: The resilience seen in the September job report will raise hopes that the economy can avoid a recession. Although manufacturing activity and business investment have been weak, consumer spending has held up well.
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September unemployment rate falls to 3.5%, a 50-year low, as payrolls rise by 136,000The jobless rate dropped 0.2 percentage points to 3.5%, matching a level it last saw in December 1969.
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U.S. Adds 136,000 Jobs in September, Barely Missing ExpectationsEconomists had expected employers to add 145,000 jobs. The unemployment rate fell to a nearly 50-year low of 3.5%, while average hourly earnings climbed 2.9% from a year earlier, a slowdown from prior months.
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