The U.S. economy is the strongest in the world and it shows no signs of slowing down. Today, another incredible economic report was released as the September unemployment rate dropped to 3.7%, the lowest since 1969. Among Hispanics and Latinos, the unemployment rate was only 4.5%, the all-time lowest level in history, while among African Americans, the unemployment rate was 6.0%, near the record low.
Not only are people finding work, but wages are increasing. In September, salaries were raised an average of 2.8%, while the typical work week remained steady at 34.5 hours.
The White House today touted the Dow new record, the record breaking unemployment and other issues.
The U.S. Labor Department released another strong employment report today. It showed that nonfarm payrolls expanded by 223,000, far exceeding expectations of most economists. The unemployment rate dropped to 3.8%, the lowest since April of 2000. For African Americans, the unemployment rate was the lowest on record, at 5.9%.