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September 2019 Employment Situation Report

Unemployment hit a 50-year low in September, declining to 3.5%. According to the quarterly Employment Situation Report from the Bureau of Labor Statistics, “The last time the rate was this low was December 1969.”

Keeping in mind that Bloomberg calculated that economists “had projected 145,000 new jobs with the unemployment rate remaining at 3.7% and average hourly earnings rising an unchanged 3.2%,” PrincetonOne believes that there will be an increased need for talent through the end of the year.

In an interview with Gad Levanon of CNBC, the North America chief economist at The Conference Board said, “Overall, this report provides more evidence that the labor market is still healthy and does not necessarily increase the likelihood of further rate cuts by the Federal Reserve in the remainder of the year.”

Download the full Bureau of Labor Statistics report here: https://www.bls.gov/news.release/pdf/empsit.pdf

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