While the jobless number is at a near half a century low ?
Things ARE sliding downward…..
The U.S. economy added a modest 136,000 jobs in September, sending the unemployment rate to a nearly 50-year low, a mixed bag that some economists said was more evidence that the country could be headed for a slowdown.
The pace is well below average monthly growth last year, though the unemployment rate of 3.5 percent was the country’s lowest since 1969.
“It’s kind of a mixed picture,” said Douglas Kruse, an economist at Rutgers University and a former White House adviser under President Barack Obama. “The job growth was less than what Wall Street and economists were expecting, but the drop in the unemployment rate was unexpected.”
Manufacturing has already entered a decline, and consumer spending is also appearing to soften after more than a year of strength. The new report, issued by the Bureau of Labor Statistics, showed that the economy lost 2,000 manufacturing jobs in September.
The National Retail Federation warned Thursday that economic uncertainty, new tariffs and fluctuations in the stock market could derail Americans’ spending plans in the run-up to the holidays. Retail lost about 11,000 jobs, driven by employment declines at clothing stores. Some other sectors performed much better, however, as health-care and business services added more than 70,000 jobs combined….