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156,562,000:
Record Employment for 12th Time Under Trump
By Susan
Jones | CNS News
A
sign of the times in an Illinois shop window.
(Photo by Tim Boyle/Getty Images)
(CNSNews.com) - The economy is the second most important
issue for registered voters as the midterm election nears, a new
Gallup Poll says. And there was very good economic news on Friday, as
the Labor Department's Bureau of Labor Statistics rolled out the October
employment report -- the final one before next week's midterm election.
The number of employed Americans has never been higher.
The 156,562,000 Americans employed in October is the twefth record set under
President Donald Trump.
In October, the number of employed men age 20 and up --
80,405,000 -- set the 12th record since Trump took office; and likewise, for
the 12th time, the number of employed women age 20 and up set a record,
reaching 70,909,000 in October.
The unemployment rate held at 3.7 percent, the same as
September, which is the lowest it's been in decades -- since the end of 1969.
And the Hispanic unemployment rate, 4.4 percent, has never been lower.
The unemployment rate for African-Americans, 6.2 percent,
remained near the all-time low of 5.9 percent set in May.
On top of those numbers, the economy added a whopping
250,000 jobs last month. After revisions, job gains have averaged 218,000 over
the past 3 months.
("Wow!" Trump tweeted on Friday morning.
"The U.S. added 250,000 Jobs in October - and this was despite the
hurricanes. Unemployment at 3.7%. Wages UP! These are incredible numbers. Keep
it going, Vote Republican!")
The number of Americans not in the labor force dipped to
95.8 million, down from last month's record high; and the labor force
participation rate increased two-tenths of a point to 62.9 percent, a move in
the right direction.
Among the major worker groups, the unemployment rates for
adult men (3.5 percent), adult women (3.4 percent), teenagers (11.9 percent),
Whites (3.3 percent), Blacks (6.2 percent), and Asians (3.2 percent) showed
little or no change in October.
In October, average hourly earnings for all employees on
private nonfarm payrolls rose by 5 cents to $27.30. Over the year, average
hourly earnings have increased by 83 cents, or 3.1 percent.
In October, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 258,514,000. Of those, 162,637,000 participated in the labor force by either holding a job or actively seeking one.
The 162,637,000 who participated in the labor force
equaled 62.9 percent of the 258,514,000 civilian noninstitutionalized
population, the same as August.
The higher the participation rate, the better, but
economists expect this percentage to remain stagnant and decline in the years
ahead as an increasing number of baby boomers retire.
President Trump highlghted the booming economy at his
rally in Missouri yesterday, telling voters that next week's election
"will decide whether we build on an extraordinary prosperity," or
whether Democrats "will wipe it all away."
"The unemployment rate just fell to the lowest level
in over 50 years," the president said. "More Americans are working
now than any time in history. Think of that...So today, right now, we have more
Americans working than at any time, any time in the history of our country.
That's pretty good," he said. "That's pretty good!"
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