ECA News

ARTICLE

Date ArticleType
10/12/2018 Industry News
Lowest Unemployment Rate Since 1969

According to the latest jobs report released last week from the Bureau of Labor Statistics, the unemployment rate fell to 3.7%, the lowest since 1969. More than 4.2 million American jobs have been created since November 2016.
 
For the fifth month this year, the unemployment rate has been below 4.0%. The unemployment rate for women fell to 3.6%, the lowest in 65 years, and the unemployment rate for Hispanics matched a record low set in July 2018. The number of unemployed fell below six million for the first time since December 2000.

The construction industry added 23,000 jobs in September and saw jobs gains came in all but one industry segment, residential buildings, which recorded a loss of 1,800 positions during the month. Nonresidential specialty trade contractors posted the strongest result, with an increase of 9,300 jobs.

The heavy-civil engineering construction category gained 7,100 jobs, residential specialty trade contractors saw their combined workforce expand by 6,200 and the nonresidential building segment was up by 2,200 jobs.

In the 12 months ended on Sept. 30, construction's total employment climbed by 315,000, or 4.5%, to about 7.3 million, according to the BLS report.

Architectural and engineering services, a separate BLS industry category, shed 1,400 jobs in September.

This jobs report shows continued steady job creation, with 134,000 jobs added last month, and upward revisions of 87,000 jobs for July and August - bringing the total to 221,000 new jobs.
 
Read the full report here.