U.S. posts 3.5% lower unemployment rate
The U.S. unemployment rate fell to an almost 50-year low, posting a 3.5% rate in September as job growth increases moderately.
“The unemployment rate usually rises ahead of a recession, so a fresh decline pushes out the timeline for any potential recession, so a fresh decline pushes out the timeline for any potential recession into late 2020 at the earliest,” said Josh Wright, iCIMS chief economist.
The recent job growth that eased the unemployment rate is a good indicator that the U.S. economy could avoid possible recession amid trade disputes with China that affected the manufacturing activities of the country.
The unemployment rate declined as 117, 000 jobs were created in the last month.
Moreover, the American economy created 45,000 more jobs in July and August than previously estimated.
Government employment also added 22,000 jobs in September after posting 46,000 in August.