The nation’s unemployment rate fell below 6% in September for the first time in six years.
The rate came in at 5.9%, while employers added 248,000 jobs last month.
The unemployment rate fell last month because more people were getting jobs, not because they were dropping out of the labor force as they have at times during the economic recovery. The number of people in the workforce was essentially unchanged.
Jobs growth was strong in professional and business services, particularly in employment services and consulting. The retail and health care sectors, which have been a powerhouse throughout the recovery, also gained. Construction added 16,000 jobs.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.