U.S. job growth slows but unemployment rate falls to 3.7%

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With September's increase below the 0.5 percent gain notched during the same period last year, that lowered the annual increase in wages to 2.8 percent from 2.9 percent in August, which was the biggest rise in more than nine years. Job growth increased in the household survey (different from the survey of employers) by a large 420,000 in September, while the labor force grew by 150,000.

The labor market, which is viewed as being near or at full employment, is steadily boosting wage growth, which could help to support consumer spending as the stimulus from the Trump administration's $1.5 trillion tax cut package fades.

The Commerce Department also said August orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans, fell 0.9 percent instead of declining 0.5 percent as reported last month.

The US central bank raised rates last week for the third time this year and removed the reference in its post-meeting statement to monetary policy remaining "accommodative".

The last time the United States jobless rate was so low preceded more than a decade of economic pain tied to rising price pressures and efforts to rein them in. North said the numbers indicate that employers are requiring the people they already have on their payrolls to work longer hours each week. However, the change was little compared to August's job report.

On the flip side, the economy only added 134,000 jobs last month, down from 201,000 in August. "It's hardly runaway wage inflation", said Steve Chiavarone, portfolio manager at Federated Investors, adding he wasn't concerned by Thursday's selloff in the stock and bond markets. The employment rate for people with disabilities has also jumped sharply over the past two months.

Rockies Cubs NL Wild Card Game free live stream, watch
With the Cubs trailing 1-0 in the bottom of the eighth, Gore pinch-ran for Anthony Rizzo , who singled with two outs. There was a report earlier this year that the Cubs were considering moving on from Maddon after the 2019 season.

The FOMC will continue to gradually raise the fed funds rate in 2019 as the job market continues to tighten.

That storm struck North and SC in mid-September and closed thousands of businesses. That largely offsets the weak September showing. Average hourly earnings rose 0.3 percent over the month, and were up 2.8 percent from one year earlier.

So far, job growth has been surprisingly strong this year despite the hurdles, averaging about 200,000 a month, up from 182,000 in 2017. The construction, mining, manufacturing, and logging industries added 900,000 jobs. The next round of jobs data will come four days before Election Day, by which point most voters' minds may be made up. Job gains occurred in professional and business services, in health care, and in transportation and warehousing. In fact, the Fed's latest survey of national business conditions reflected concerns about labor shortages that are extending into non-skilled occupations as much as about tariffs.

The unemployment rate for September 2017 was 4.2 percent.

That run has added almost 20 million people to the nation's payrolls since the Great Recession, which cost almost 9 million their jobs.

Economists polled by Reuters had forecast the overall trade deficit swelling to US$53.5 billion in August.

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