Unemployment at Lowest Level in Nearly 50 Years - Adviser Investments

Unemployment at Lowest Level in Nearly 50 Years

Megan Higgins, manager at Adviser Investments, has the market analysis for Friday, October 5. All major U.S. stock indexes declined for the second consecutive day: The Dow Jones Industrial Average, S&P 500 and NASDAQ fell 0.7%, 0.6% and 1.2%, respectively. The Labor Department released September employment figures; 134,000 jobs were added to U.S. payrolls last month—the lowest monthly gain thus far in 2018 and 25% fewer than the estimated 185,000. On the upside, September’s 3.7% unemployment rate is the lowest since 1969, and wage growth has risen 2.8% year-over-year. Meanwhile, consumer credit increased by $20 billion in August, reflecting an annual growth rate of more than 6%.

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