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Expand chart
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.

Go deeper: Private sector adds more jobs than expected in September

Go deeper

Updated 26 mins ago - Politics & Policy

Inauguration Day dashboard

U.S. Capitol and stage are lit at sunrise ahead of the inauguration of Joe Biden. Photo: Patrick Semansky - Pool/Getty Images

President-elect Joe Biden and Vice President-elect Kamala Harris have arrived at the Capitol. Members of congressional leadership and VIPs will soon be introduced. Watch a livestream here.

What's next: Biden and Harris will take their oaths of office. Shortly after, President Biden will deliver his inaugural address. What to expect.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Momentum builds for major antitrust reform

Illustration: Aïda Amer/Axios

President Trump's outgoing antitrust chief Makan Delrahim on Tuesday endorsed a proposal from House Democrats that would put new limits on acquisitions by large companies, during comments made at a Duke University event.

Why it matters: Momentum is building for major antitrust reform, updating rules that were written for railroads instead of routers.

Updated 3 hours ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.