The American economy has continued to create a significant number of jobs in September and the unemployment rate fell to the lowest level since July 2008, said Friday the Labor Department, further evidence that the world’s largest economy is track to a strong recovery.
Apart from the month of August, the jobs created are more than 200,000 per month for seven months. After adjustment, job creations were 69,000 more than initially announced for the period from July to August.
the result of Friday, American companies have extended the longest period in history in terms of job creation in the private sector.
So far, private employment has increased this year by almost 2 million, being the best year of job growth in the private sector since 1998, said in a Jason Furman statement, the chairman of the Council of Economic Advisers.
The American economy grew 4.6% in the second quarter, driven by solid growth in personal consumption and private investment. Economists generally assume growth of the American economy more than 3% for the second half of the year, earning the installation of a solid recovery.
Despite this significant improvement, the Federal Reserve remains cautious in terms of raising interest rates because it sees a real lack of momentum in the labor market.
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