U.S. employers added fewer positions than expected in September, but the unemployment rate fell to 3.7%, the lowest level since 1969.
Figures released by the U.S. Bureau of Labor Statistics on Friday showed non-farm payrolls increased by 134,000, slowed in part by job losses that were likely caused by Hurricane Florence. Economists had forecast 185,000 net additions.
The low unemployment rate added to evidence of a booming economy and a tight jobs market, pressuring companies to pay workers more.
As usual, the focus was on wages — but even more so this time. Average hourly earnings rose in line with forecasts, by 0.3% month-on-month and 2.8% year-on-year.
