September unemployment rate reaches 50-year record low of 3.5 percent; payrolls rise by 136,000

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Unemployment is at its lowest in 50 years in September at 3.5 percent, with nonfarm payrolls increasing by 136,000, according to the Labor Department’s report on Friday.

Amid the Sino-U.S. trade war, global growth has slowed and businesses have cut back on their investment spending. Despite this, hiring has averaged 157,000 in the past three months, making it enough to absorb new job seekers and resulting in lower unemployment over time.

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