The latest monthly report on the employment situation in the US saw the unemployment rate dip to its lowest level since 1969. While the addition to non-farm payrolls was below expectations, upward revisions to prior months made this a very bullish report. The numbers will add to the Fed's confidence that it can raise interest rates more aggressively without it's having a negative impact on the US economy.
Here are several of the September report's highlights that are positive, some taken verbatim from the report itself:
The unemployment rate is now 3.7% versus 3.9% a month ago.
Nonfarm payroll employment increased by +134,000 in September.
August nonfarm payroll employment gains were revised up from +201,000 to +270,000.
July nonfarm payroll employment gains were revised u...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.