U.S. Unemployment Rate Hits 48-Year Low

The U.S. unemployment rate declined to 3.7% last month which is the lowest figure since 1969. The Labor Department figures released Friday morning showed jobless figures dipped slightly from 3.9% in August to their lowest level in 48 years. They also showed that employers added 134,000 jobs last month, but that was well below consensus forecasts of around 180,000 and comes in at the lowest number of jobs added in a year. Average hourly earnings rose by 8 cents to $27.24 and, over the year, average hourly earnings have increased by 73 cents or 2.8%. It is believed Hurricane Florence may have had an impact on the jobs market.