WASHINGTON, D.C. (KRQE) – A new report shows unemployment is at its lowest rate in a half-century.
The U.S. Labor Department says the economy grew by 266,000 jobs last month, lowering the unemployment rate to 3.5%. Manufacturing jobs increased by 54,000, fueled largely in the automotive industry. Analysts say the report is a sign of a strengthening economy.
“The consumers, the investors feel comfortable in our market and this has been a pattern that we’ve seen over time,” said Jonathan Corpina of Meridian Equity Partners.
The reports also found hourly wages rose 3.1% from last year.