WASHINGTON – The US economy created 250,000 new jobs in October, federal economists said on Friday in the government's last snapshot before the midterm elections.
The unemployment rate remained at 3.7 percent, a 49-year low and a typical low The workers' income rose 3.1 percent last October, the biggest jump since 2009.
"This is the best work environment since Over a decade, "said Joseph Brusuelas, chief economist at RSM US, an international corporate consulting firm.
The Bureau of Labor Statistics report appears less than a month after Hurricane Michael hit Florida Panhandle and Georgia, temporarily disabled some people and dampened economic activity in the Southeast. Michael's destruction followed Hurricane Florence, which devastated homes and roads in the Carolinas with floods.
President Trump celebrated on Friday the recovery of the country from the disasters on Twitter.
Wow! The US added 250,000 jobs in October, despite the hurricanes. Unemployment at 3.7%. Wages UP! ", He wrote.
The country now has 7.1 million jobs, a record high, the Labor Department announced Tuesday.
Analysts say that America's robust growth started in 2014 and has largely kept pace since then. The average number of monthly jobs added between 2015 and 2016 was 211,000, according to the Labor Statistics Bureau. The last two years have kept this course.
Companies are under pressure to offer higher paychecks at a time when more vacancies are available than applicants to fill them, said Andrew Chamberlain, chief economist at jobs site Glassdoor.
& # 39; & # 39; Average wages are finally starting to rise, especially for some low-skilled positions. & # 39 ;, said Chamberlain. "Maintenance workers, bank clerks, cashiers, cooks – employers are losing many of these positions."
Healthcare, manufacturing, construction, transportation and warehousing drove particularly strong job growth in October.
The number of employees in hospitals, nursing homes and other medical facilities increased by 36,000.
The number of jobs in the manufacturing industry increased by 32,000, with the largest increases being made by the production of goods. Construction activity grew by 30,000 jobs, almost half of which was focused on residential real estate.
Transportation and storage increased by 25,000, while leisure and hospitality rebounded from the hurricane slowdown in September with 42,000 jobs.
The country's unemployment rate reached almost half – lower in September. The President has accepted this data point. "Just out: 3.7% Unemployment is the lowest number since 1969!" Trump tweeted on October 5th.