The creation of jobs in the United States grew moderately in September and the unemployment rate fell to a minimum of almost 50 years to 3.5%, which would alleviate financial market concerns that the economy is on the verge of a recession due to commercial tensions.
The National Employment Report of the Department of Labor – closely observed by the markets – indicated Friday that the average hourly wage remained unchanged and that non-farm payrolls in the manufacturing sector fell for the first time in six months, while the retail segment continued to reduce jobs.
Overall, nonfarm payrolls increased by 136,000 last month, the government said, below estimates from a Reuters poll that aimed at creating 145,000 positions.
August data were reviewed to show that 168,000 jobs were created, instead of the 130,000 open positions initially reported.
The US unemployment rate fell to 3.5% last month, above the consensus of estimates that predicted a stable figure of 3.7 percent.
Recruitment has declined this year as trade war with China intensified, global growth slowed and business investments declined. However, 157,000 workers have been hired on average over the past three months, enough to reduce the unemployment rate over time.
Meanwhile, For Latinos, the unemployment rate fell to 3.9%, the lowest since 1973.
