Arab Today, arab today us unemployment rate falls below 6 to 6 year low
Last Updated : GMT 18:42:31
Arab Today, arab today
Arab Today, arab today

US unemployment rate falls below 6% to 6 year low

Arab Today, arab today

Arab Today, arab today US unemployment rate falls below 6% to 6 year low

The US jobless rate has fallen to 5.9 percent from 10 percent in 2009
Washington - AFP

The US jobs machine shifted into a higher gear in September, pushing the unemployment rate down to 5.9 percent, the lowest level in six years.
In a boost for President Barack Obama a month before midterm congressional elections, the Labor Department reported Friday that the economy pumped out 248,000 net new positions last month.
Together with upward revisions from previous months, this eased concerns about a late-summer slump in job creation.
The solid run so far this year -- an average of 227,000 jobs each month -- brought the number of officially unemployed down to 9.3 million, the lowest level since July 2008.
But the data also showed continued weakness in wages, and still-large numbers of long-term unemployed, part-time workers and labor market dropouts.
That could challenge Obama's bid to prove that his stewardship over the economy has served Americans well, ahead of the November mid-term congressional elections.Obama's Democrats are battling to prevent Republicans from seizing control of both houses of Congress, and the president hit the campaign trail on Thursday to promote his economic record.
In a speech at Northwestern University, he pointed out that in the aftermath of  the 2008-2009 recession, the United States "has put more people back to work than Europe, Japan, and every other advanced economy combined."
"It is indisputable that our economy is stronger today than when I took office. By every economic measure, we are better off now than we were when I took office," he argued.
The September jobs market data underscored those gains.
Job creation was strongest in the restaurant industry, health care, food and beverage stores, and administrative services, with also modest additions in construction and government hiring.
But weaknesses persist. The number of those who have dropped out of the labor market -- a volatile figure month-to-month -- rose by 315,000, almost as much as the fall in the number of unemployed.The civilian labor force participation rate fell a tick to a new low of 62.7 percent, far below the 66 percent level prior to the severe 2008-2009 recession.
The number of involuntary part-time workers was little-changed in September at 7.1 million, and wages were down slightly for the month.
The unemployment rate has fallen steadily from the peak of 10.0 percent in October 2009, nine months after Obama took office.
But average weekly wages have risen by just over two percent a year since then, barely staying ahead of inflation, adding to the feeling among many Americans that things have not improved.
“Policy makers will certainly be worried by the lack of wage growth," said Chris Williamson of economic consultancy Markit.
"Without substantially higher wage growth, the fear is that households will pull back on consumption if interest rates and borrowing costs start rising, snuffling out the wider economic recovery.”
The September jobs data also adds little fresh pressure on the Federal Reserve, which has been focused on cutting joblessness, to move more aggressively to tighten monetary policy from the current easy-money stance.
Fed Chair Janet Yellen has argued for much of the year that significant slack in the labor market gives the central bank more time before it has to raise its benchmark fed funds interest rate up from the zero-level where it has been since late 2008.
So far the Fed has signalled it expects an initial rate hike in the second half of 2015.
But analysts said that if the current pace of job creation holds up, and if wages pick up, that could be advanced.
Economist Harm Bandholz of UniCredit said he expects wage gains "are about to gain some momentum" and the Fed could also shift gears "faster than currently anticipated by most financial market participants."

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us unemployment rate falls below 6 to 6 year low Arab Today, arab today us unemployment rate falls below 6 to 6 year low

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Egyptian tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Egyptian tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday