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The American economy has added jobs for a record 106 consecutive months, even as broader growth slows.
Trump’s top economic advisor just applauded Alexandria Ocasio-Cortez for her questions about low unemployment to Fed Chair Jerome Powell
In a congressional hearing Wednesday, Fed Chair Jerome Powell said the US economy can sustain unemployment "substantially lower than we thought."
The jobs report was expected to show that the unemployment rate held at a 49-year low for a third straight month.
Wage growth is picking up, and the jobs report showed a new postrecession milestone for Americans' paychecks.
The low unemployment rate shown in Friday's jobs report added to evidence of a booming economy, now in a record eighth straight year of monthly job gains. It also showed the labor market continuing to tighten, perhaps eventually pressuring companies to pay workers more.
The US jobs report released Friday showed that wages increased in August at their fastest year-on-year pace since the Great Recession. The report also showed that employers added more nonfarm payrolls than had been forecast, while the unemployment rate remained at an 18-year low of 3.9%.
One signal July was strong can be found in the low number of people filing for unemployment benefits for the first time. Initial jobless claims were near a 50-year low in the week officials conducted their survey for the jobs report, and they haven't added up to more than 300,000 since March 2015.
Black unemployment spikes after Trump touts record-low level in fight with Jay-Z, State of the Union speech
Black unemployment jumped in January, up from a record low. Just last week, President Donald Trump used the record to rebuff the rapper Jay-Z.
There are several areas of study that make job-finding much harder.
New data predicts wage growth of only around 1% for the next year, and a median of 24 applicants for every low-skilled position.