Data: Bureau of Labor Statistics; Chart: Axios Visuals
The U.S. economy added 136,000 jobs in September, while the unemployment rate fell even lower, from 3.7% to 3.5% — the lowest level since December 1969 — the government said on Friday.
Why it matters: While it's fewer than the 145,000 economists expected, the labor market continues to be the bright spot in the economy. The number may calm recession fears after a week that saw deterioration in manufacturing data and softening on the all-important services side of the economy.
The big picture: Jobs gains were better than expected in prior months, too.
July numbers were revised higher to 166,000 from 159,000, while August's job gains were revised to 168,000 from 130,000.
Unemployment for African Americans and Hispanics are at an all-time low.
Between the lines: One dark spot in the report: wages rose only 2.9% on an annual basis — a slowdown from previous months. This is surprising given how low the unemployment rate is, which would typically push employers to bid wages higher in order to attract employees.
