September Jobs Report: Boom! 3.7% Unemployment Rate!
Washington, DC— Friday, Congressman Mo Brooks (AL-05) emphasized the strong Bureau of Labor Statistics September jobs report.
Congressman Brooks said, “While Washington elites and national media obsess about other matters, working Americans rejoice at yet another great jobs report. In September, Americans celebrated a 3.7% unemployment rate, America’s best since 1969 and a continuation of the strongest economic boom America has enjoyed in more than a decade!”
Brooks continued, “The bottom line is that free enterprise works. Socialism doesn’t. Congress and President Trump’s tax cuts, deregulation, restoration of free enterprise principles, and fair trade policies have united to spur fantastic economic growth that benefits all of America. The result? More jobs. Higher pay. Small business optimism higher than at any time in the last 35 years. Economic growth rates at levels unseen in more than a decade. The most explosive DOW Jones jump in decades. All are great for American families.”
Brooks concluded, “Gone are the days of anemic jobs reports and subpar economic performance. The American economy has been unleashed and is roaring along. This is what the American people are capable of when we embrace liberty-based, free enterprise economic policies and reject the feel-good socialist policies that have resulted in untold misery and despair in places that have succumbed to their siren song. The prosperity we’re seeing now will continue as long as America embraces free-market capitalism— the greatest engine for human advancement and wealth creation in history.”
Key takeaways from the Bureau of Labor Statistics September jobs report are:
- America’s economy added 134,000 new, nonfarm payroll jobs in September 2018.
- America’s economy added 2.7 million new, nonfarm payroll jobs over the past year.
- America’s September unemployment rate was 3.7%, a year-to-year improvement of 0.5 percentage points over the 4.2% unemployment rate of September 2017.
- Unemployment rates for all major races and ethnicities improved over the past year:
- African Americans benefitted the most. The African American unemployment rate improved by 1.0 percentage points (from 7% in September 2017 to 6% in September 2018).
- The Hispanic American unemployment rate improved by 0.6 percentage points (5.1% to 4.5%).
- The Caucasian American unemployment rates improved by 0.4 percentage points (3.7% to 3.3%).
- The Asian American unemployment rate improved by 0.1 percentage points (3.6% to 3.5%).
- Females (at 3.3% unemployment rate) continued to do better than men (a 3.4% unemployment rate).
- Over the past year, the average weekly earnings for all non-farm American workers increased by $30.49, a whopping 3.4% increase over September, 2017.