What is U.S. Unemployment Rate for September 2018?
According to the U.S. Bureau of Labor Statistics (BLS) the U.S. national unemployment rate (seasonally adjusted) for September 2018 is 3.7%.
What is the average U.S. Hourly Wage as of September 2018?
According to the U.S. Bureau of Labor Statistics (BLS), the U.S. average hourly wage for September 2018 is $27.24, an increase of $0.08 per hour from last month and a $1.51 increase year-over-year.
The unemployment rate declined by 0.2% to 3.7% in September, the lowest rate since 1969.Over the year, the unemployment rate and the number of unemployed persons declined by 0.5% and 795,000, respectively.
Although the addition of 134,000 jobs in September marks the slowest pace of growth in a year, today’s labor market remains the strongest in nearly five decades.
The industries with the biggest year-over-year hiring increases in September were transportation & logistics (7.5% higher); energy & mining (4.6% higher); and manufacturing (3.1% higher).
Additionally, health care employment rose by 26,000 in September, followed by the addition of 23,000 construction jobs and 18,000 manufacturing jobs.
What does this mean to employers?
With U.S. unemployment edging down again in September, employers can expect to continue to feel the pinch of the tightest labor market in eight years.
Average hourly earnings were up 2.8% in September from a year earlier, a slight slowdown from the 2.9% rate in August. The strongest wage growth can be seen among workers at the bottom of the earnings ladder, putting additional pressure on companies to make wage adjustments in order to compete for in-demand workers.
About the Report
Source2’s Monthly U.S. Unemployment Rate & U.S. Average Hourly Wage report makes it easy to quickly see the latest numbers from the U.S. Bureau of Labor Statistics' Current Employment Statistics (CES) surveys. Click here to download an excel spreadsheet with three years of data in cell and chart formats, or click here for a one-page pdf snapshot to print and share.
U.S. Average Hourly Earnings - All Private, Nonfarm (Seasonally Adjusted) https://www.bls.gov/news.release/empsit.t19.htm
Those Not in the Workforce https://www.bls.gov/web/empsit/cpseea38.htm
Lynette Stokes is a Senior Engagement Specialist with Source2, experienced in offering solution recommendations that solve the challenges of clients with a focus on improved performance, flexibility and cost effectiveness. Schedule a free consultation with her today.