U.S. UNEMPLOYMENT RATE DROPS IN SEPTEMBER, BEATING EXPECTATIONS

Key Points:

  • The U.S. economy is continuing to rebound after COVID-19.
  • Consensus among economists expected a 0.2% decline to a national 8.2% unemployment rate.
  • In reality, the unemployment rate declined by 0.5% to 7.9% in September and total nonfarm payroll employment rose by 661K.
  • This is the fifth consecutive monthly decline in unemployment.
Source