Unemployment Hits 7-Year Low

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unemployment jobsUnemployment fell to its lowest level in seven years, down to 5.1 percent in August as the economy added 173,000 jobs. Hiring, however, was at its lowest in five months, though the Labor Department revised the previous month’s job growth upward by 44,000.

Economists expect job growth to be a key factor in whether the Federal Reserve decides to raise interest rates later this month. Read more.

{CB Frommer-Matzav.com Newscenter}

2 COMMENTS

  1. 5.1% is the U3 unemployment number. If you use the more comprehensive U6 measure the unemployment is around 10.5%. If you also take into account people who have not been able to find work for more than a year the number is around 23%.

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