According to the Bureau of labor and statistics, the US Unemployment Rate stood at 4.2 percent last month from 4.4 percent in August. The bureau has also reported that 33,000 people lost their jobs last month compared to 169,000 people who entered the labor market in August. The agency has indicated that the job losses last month was as a result of job losses in the food services and drinking sector and the impact of hurricanes Irma and Harvey.

More people were employed in the transportation, warehousing and healthcare sectors. The number of unemployed people in the US declined by 331,000 to reach 6.8 million.

On average, 172,000 jobs were added in the US economy in the past 12 months. 25 percent of the unemployed or 1.7 million people were jobless for more than 27 weeks.

Additional statistics

According to the bureau, the unemployment rate among adults in September was 3.9 percent while the unemployment rate among teenagers was 12.9 percent. The rates among different races show that the unemployment rate for Blacks was 7 percent, Whites were 3.7 percent, Asians were 3.7 percent while Hispanics had an unemployment rate of 5.1 percent. When it comes to hourly payments, the average hourly pay for employees in the private sector was $26.55 in September.

Job gains and losses

  • Healthcare +23,000
  • Transportation and warehousing +22,000
  • Professional and business services +13,000
  • Financial activities +10,000
  • Food and drinks service sector -105,000
  • Manufacturing -1,000

Trump's employment policies

Trump has vowed to improve the US economy by lowering taxes, raising tariffs on imports from specific countries as well as limiting the number of foreign workers working in the US.

Lower corporate and income taxes will enable companies to remain profitable and reduce cost-cutting measures such as downsizing. Increasing imports tariffs from countries perceived to be "currency manipulators" will allow local manufacturers to stay competitive and produce more. Trump has also threatened to exit the US from the Trans-Pacific Trade Agreement and to renegotiate deals in the North American Free Trade Treaty.

Economists have regarded his tariff and foreign trade treaty policies as protectionist moves that go against globalization. In April this year, Trump also vowed to overhaul the H-1B visa program, a move that will compel US companies to hire more American workers.

Back in September 2016, he proposed to increase investments in infrastructure, reduce business regulations, revise tax and trade agreements which he claimed, would create 25 million jobs over the next decade.
© ALL RIGHTS RESERVED