First time in 49 years, unemployment rate in US declined to 3.7%
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This has happened for the first time in last 49 years that the unemployment rate in US has declined to 3.7% from 3.9%. This is quite an achievement for US. As per the figures from Department of Labor, in the month of September 1,34,000 jobs were created. The growth was seen in professional and business services, health care, and construction jobs. The average hourly earnings of workers increased at an annual rate of 2.8%.