BUSINESS_ Unemployment dips to 3.7 percent - lowest in nearly 50 years

WASHINGTON EXAMINER

Unemployment dips to 3.7 percent - lowest in nearly 50 years

by James Langford | October 05, 2018 08:42 AM | Updated Oct 05, 2018, 08:58 AM


U.S. unemployment dipped to 3.7 percent in September, the lowest since December 1969, even as labor market growth contracted sharply amid tightening at stores, bars, and restaurants.

The net gain of 134,000 positions reported by the U.S. Labor Department on Friday was 27 percent lower than the average estimate of 184,000 from economists surveyed by FactSet and compares with growth of 201,000 a month before. Employment in the retail industry dropped by 20,000, reflecting rising competition from businesses like Amazon and disruption from Hurricane Florence's landfall in the southeastern U.S.

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READ MORE: https://www.washingtonexaminer.com/business/unemployment-dips-to-3-7-percent-lowest-in-nearly-50-years

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