The national unemployment rate declined to 3.5 percent in September
Though statistics point to a slowing global economy, American hiring remains strong.
In September, American employers added 136,000 jobs and the unemployment rate fell to 3.5%, which is the lowest rate since December 1969.
Although the pace of hiring has slowed considerably since last year, the most recent report from the Labor Department showed signs of growth: Both July and August's jobs reports were revised higher by tens of thousands of jobs. The nation's underemployment rate, which looks at people who are unemployed as well as those who are working part-time but would prefer full-time work, fell to 6.9%. That's the lowest reading for that measure since December 2000.
However, the massive GM strike, in which about 50,000 people joined picket lines, was not counted in this month's report. In addition to this, wage growth stagnated as paychecks grew by only 2.9% over the past year, which was lower than expected.
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