U.S. Secretary of Labor Acosta Comments on October Jobs Report
(November 7, 2018) - U.S. Secretary of Labor Alexander Acosta issued the following statement regarding the October 2018 Employment Situation report:
“The October jobs report showed another booming month of job creation. With 250,000 new jobs added, we have a total of 4.5 million new jobs since November 2016. Jobs were added across all industries. Employment hit a record high of 156,562,000.
“For the second straight month, the unemployment rate is 3.7%, the lowest rate since 1969. For six months this year, the unemployment rate has been under 4.0%. The unemployment rate for Hispanic Americans was the lowest ever.
“Over the past year, we have had the largest increase in average hourly earnings since 2009. It is encouraging to see that Americans are seeing more in their paychecks as job creators compete for the best talent in the workforce.
“Gross Domestic Product for the third quarter was 3.5% and consumer confidence is the highest in more than 18 years. This week, the White House announced that over 6 million Americans will receive workforce education as a result of the President’s Pledge to America’s Workers. Investing in the American workforce will continue to build great returns for our nation.”