Unemployment Rate Drops to Lowest Level in 50 Years

American Workers Are Thriving as the Unemployment Rate Drops to Lowest Level in 50 Years

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American workers are thriving in today’s job market. The unemployment rate is plummeting for Americans of all backgrounds. 

• The unemployment rate dropped to 3.5% in September, its lowest level in 50 years.
• American workers are thriving in today’s job market, as the unemployment rate has remained at or below 4% for 19 consecutive months – the longest such streak in five decades.
• Today’s strong economy is lifting up Americans of all backgrounds.

o   The Hispanic unemployment rate fell to a new record low of 3.9% in September, dropping below 4% for the first time ever.

o   The African American unemployment rate remained at a record low of 5.5% in September.

o   The unemployment rate for Americans with a disability reached its lowest level on record.

o   The unemployment rate for Americans with less than a high school diploma fell to 4.8%, a record low.

We continue to see strong job growth as President Trump’s pro-growth policies drive an economic resurgence.

• More than 6.4 million jobs have been added since President Trump’s election.

o   This is more jobs than the entire population of Maryland in 2018.

• 136,000 jobs were created for American workers in September, showing the continued strength of the economy.
• Our continued economic resurgence is defying expectations and demonstrating the effectiveness of President Trump’s pro-growth policies

o   Job gains have exceeded 100,000 in 31 of the 34 months since President Trump’s election.

o   We have averaged 179,000 new jobs per month over the last year.

o   In contrast, the Congressional Budget Office predicted only 14,000 new jobs per month at this point in its pre-2016 election forecast.

• More than 500,000 manufacturing jobs and nearly 700,000 construction jobs have been created since President Trump’s election.