WASHINGTON— The U.S. unemployment rate dropped to 3.7 percent in September, according to data released Friday by the Bureau of Labor Statistics, the lowest since December 1969.
While the jobless rate hit a historic low, the economy added 1340,000 new jobs, down from 270,000 the previous month and below the 12-month average of 201,000.
The Bureau noted that the numbers continued to be collected as Hurricane Florence hit the East Coast last month, which likely attributed to the lower-than-expected number of new jobs.
Employment in the health care sector rose by 26,000 while transportation and warehousing followed by 24,000.
The construction industry gained 23,000, manufacturing added 18,000 and mining added 6,000.
Employment in leisure and hospitality dropped by 17,000 jobs.
President Donald Trump applauded the new data on Twitter.
Just out: 3.7% Unemployment is the lowest number since 1969!
— Donald J. Trump (@realDonaldTrump) October 5, 2018