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