Unemployment Rate Falls to 30-year Low | AccountingWEB

Unemployment Rate Falls to 30-year Low

The U.S. Labor Department just released its September unemployment statistics, marking a 30-year low with the rate of 4.2 percent. Overall, the nation's jobless rate has stayed below 4.4 percent since March 1999.

Also released were figures regarding the number of payroll jobs, which fell in September by 8,000 positions. The number of positions typically is affected by a major change either in the economy or another sort of large populations-affected change like a natural disaster. For example, the last time the rate fell was in January 1996 due to a winter blizzard. This time, Hurricane Floyd affected the rate.

Even though the job growth was down, average hourly earnings increased in September, growing by .5 percent to $13.37, a rise of .3 percent over August.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

WHAT KIND OF FIRM ARE YOU?
As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.