US unemployment rate falls to 50-year-low of 3.5%

Washington: The US unemployment rate dropped to near a 50-year low of 3.5 per cent, with 136,000 jobs added to the economy in September, country’s department of Labour said on Friday.

September 2019 marked the 19th straight month that the unemployment rate has been at or below 4 per cent in the country.

“In September, 136,000 new jobs were added, and upward revisions for July and August added an additional 45,000 jobs, US Secretary of Labor Eugene Scalia said in a statement, adding that more than six million jobs have been added since 2017.

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“The unemployment rate for Americans with less than a high school diploma dropped to a record low since reporting began in 1992. The African-American unemployment rate held at a record low from August and the unemployment rate for Hispanic-Americans set a new record low,” the statement added.

Noting the drop rate in a tweet shortly after the release, US President Donald Trump said, “wow America, let’s impeach your President (even though he did nothing wrong!).”

“Breaking News: Unemployment Rate, at 3.5%, drops to a 50 YEAR LOW. Wow America, let’s impeach your President (even though he did nothing wrong!),” the tweet read.

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