The September jobs report released today shows a continuation of the booming labor market, with the unemploymentrate falling to the 49 year low of 3.7 percent.
Nonfarm payrolls rose 134 000 after a 270 000 gain the prior month that reflected a large upward revision, a Labor Department report showed Friday.
Florence-related flooding and damage in North Carolina and SC was expected to influence the data, though on a smaller scale than the 2017 disruptions from hurricanes Harvey and Irma.
The good news does not necessarily mean that Americans are being paid better, however - the average hourly wage was up just 2.8% compared to the same time past year.
"The labor market remains healthy, and we think the Goldilocks scenario of decent economic growth with tame inflation is poised to continue", said Aaron Anderson, head of research at Fisher Investments in San Francisco.
That higher pay is likely to trim corporate profit margins, however. The yield on the government's 10-year Treasury note, a benchmark for mortgages and other loans, has touched its highest level in seven years.
Fed Chairman Jerome Powell said on Tuesday that the economy's outlook was "remarkably positive" and he believed it was on the cusp of a "historically rare" era of ultra-low unemployment and tame inflation.
"The markets could give this a little bit of a pass cause it's not clear what impact the hurricane had at the moment". This is the sixth straight month the unemployment rate has been at or below four percent, also the best in a half century. Some companies are starting to boost wages - Amazon.com Inc. being among the latest to pledge raises - to attract or retain workers. Measures of consumer confidence are at or near their highest levels in 18 years. That's despite hiring being slower than expected in September.
(Kitco News) - Gold prices are holding relatively steady, hovering above the psychological level of $1,200 an ounce as the US labor market showed a mixed picture last month.
Americans have continued spending steadily and appear to be in generally stable financial shape.
Ian Shepherdson, the chief economist at Pantheon Macroeconomics, predicted that the jobless rate will fall as low as 3.25 percent by this time next year, strengthening the case for the US Federal Reserve to keep raising interest rates.
Barrera said she has also seen data that show more people are going straight from not being in the labor force to being employed, bypassing the "unemployed" status altogether. Sales of existing homes have fallen over the past year, held back in part by higher mortgage rates. Auto sales have also slumped.
A month ahead of hard-fought congressional elections, the result was sure to delight US President Donald Trump, who has eagerly taken credit for America's extended run of economic expansion even as his Republican party faces a possible rebuke from disenchanted voters.
Still, should the tariffs remain fully in effect a year from now, roughly 300,000 jobs could be lost by then, according to Mark Zandi, chief economist at Moody's Analytics.
Professional and business services remained the economy's strongest sector, with a cumulative 560,000 jobs added over the past year.
After a tough couple of weeks, the New England Patriots are starting to get back into the swing of things. That's also exactly the same as the Week 1 game of the 2017/2018 season had on CBS on September 28, 2017.
Some critics saw antisemitic overtones in Trump's tweet referencing George Soros , a billionaire liberal activist who is Jewish. The accusations came just ahead of a procedural vote in the Senate on Kavanaugh, who has been accused of sexual misconduct.
McDonald's death was an abrupt encounter that tore at open wounds between Chicago's government and its community. Dyke became the first Chicago police officer convicted of murder for an on-duty shooting in almost 50 years.
Ahead of the vote, hundreds of people protested against Mr Kavanaugh's nomination at the US Capitol in Washington . Trump called the Kavanaugh confirmation process - and ensuing backlash - a "rallying cry" for the GOP.
Many Conservatives expect her to face a leadership challenge soon after Britain leaves the bloc - or even before. Although, added the Guardian , there is quite a lot of skepticism about whether she can deliver.
Ujczo said the Trump administration was never "red in tooth and claw" about radically transforming NAFTA in the first place. Some of the tweaks in USMCA are good, some not so good, but the new pact mostly affirms the existing arrangements.
Man Utd defeat Newcastle 3-2 in Premier League
Team news: What do Jose Mourinho and Rafa Benitez have to say? "Today, you have to give credit to Man United ". In his pre-match press conference on Friday, Mourinho accepted that the performance was not good enough.
Montserrat Caballe dies at 85
She went on to tour the world in a career spanning 50 years, garnering global acclaim for her creamy voice and dramatic power. The Spanish singer died in Sant Pau hospital in the city of Barcelona, staff there said, without giving further details.
Head of Interpol disappears during visit to China
Mr Meng likely dealt extensively with former security chief Zhou Yongkang, who is now serving a life sentence for corruption. The paper reported that after landing, Meng was "taken away" for questioning by what it said were "discipline authorities".
Turkey summons Saudi envoy over missing writer
She said Khashoggi had gone to the consulate to obtain documents for their own marriage to prove he was not married. He was also required to surrender his mobile phone - which is standard practice in some embassies and consulates.
Tesla CEO Musk mocks SEC on Twitter after fraud lawsuit
Part of the deal reportedly also required him to get approval for all tweets related to his company before posting. The Tesla boss dislike of short-sellers is well-known: He once called them " jerks who want us to die ".