Despite the ongoing trade war with China, the unemployment rate in the U.S. recently dropped to a 50-year low. A September job report from the Bureau of Labor Statistics showed the unemployment rate dropped from 3.7 percent to 3.5 percent in the last month. The data also revealed that about 136,000 new jobs were filled.
This is especially good news for economists, who feared tensions with China would put a damper on the American economy. The Wall Street Journal said job gains and historically low unemployment rates acted as a buffer for the economy and lessened the impact of the trade war.
The White House has attributed these numbers to the administration’s “pro-growth agenda.” They said the agenda is providing job creators with the framework they need to expand their businesses and offer more opportunities for workers.
“Thanks to our pro-American agenda, the economy is booming, wages are rising and poverty is plummeting,” said President Trump. “3.5 percent — people didn’t think they were going to see that.”
The White House ended by saying the September report makes it clear that the American labor market remains historically strong.