Strong labor market continues
The September unemployment rate declined from 3.9% to 3.7%, its lowest level since 1969.
The Conference Board’s Consumer Confidence Index rose to 138.4 in September, which is up from 134.7 in July, and is the highest level since October 2000.
That’s not surprising. The economy added 134,000 jobs in September, bringing the 12-month total increase to 2.54 million—an acceleration over the full-year 2017 increase of 2.19 million new jobs. It also exceeds the 2016 total of 2.34 million new jobs.
The September unemployment rate declined from 3.9% to 3.7%, its lowest level since 1969. The improvements have been broad-based from a geographic perspective.
Unemployment rates now are lower than year-ago readings in 83% of the 388 metropolitan areas the Bureau of Labor Statistics tracks.
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