Washington : The unemployment rate in US dropped to 5.9 %, the lowest since July 2008, with as many as 248,000 new jobs added in the last month, latest official statistics said. According to Bureau of Labor Statistics, the unemployment rate declined by 0.2 percentage point to 5.9 % in September. The number of unemployed persons fell by 329,000 to 9.3 million.
“With today’s report, America’s businesses extended the longest streak of private-sector job gains on record,” said Jason Furman, Chairman of the Council of Economic Advisors. Over the year, the unemployment rate and the number of unemployed persons were down by 1.3 percentage points and 1.9 million respectively, it said. The private sector added 10.3 million jobs over 55 straight months of job growth, extending the longest streak on record.
“The data underscore that six years after the Great Recession—thanks to the hard work of the American people and in part to the policies the President has pursued—our economy has bounced back more strongly than most others around the world,” Furman said.
Lalit K Jha