Trump promised on the campaign trail that he would deliver on American jobs and so far, it’s true. He has been president for less than a year and unemployment has already dropped to its lowest rate in years.
The Wall Street Journal reports:
Hiring Rebounded in October, Unemployment Rate Fell to 4.1%
The U.S. jobless rate fell to a 17-year low in October and employers hired at a strong pace, showing the labor market bounced back from recent hurricanes.
Nonfarm payrolls rose a seasonally adjusted 261,000 in October, the Labor Department said Friday. September’s payroll data, initially reported as the first drop in seven years, were revised to show employers actually created 18,000 new jobs that month, extending the economy’s streak of job gains to a record 85 straight months.
The pace of job creation in the U.S. remains solid despite the hit to the economy from Hurricane Harvey, which battered Texas in late August, and Irma, which hit Florida in early September. Job gains have averaged 162,000 over the past three months, a modest slowdown from a 185,000 average over the past two years.
The unemployment rate fell to 4.1% in October, its lowest level since December 2000. The unemployment rate, which changed little over the course of 2016, has barreled down from 4.8% at the start of this year, a sign that workers are rapidly become more scarce—a challenge made worse by the aging workforce and retirement of many workers.
This is fantastic news for the American people. And it’s only the beginning.