The market got some good news Friday morning as the Bureau of Labor Statistics (BLS) reported the U.S. unemployment rate dropped to 5.9% -- the first time it's dipped below under 6% since 2008.
The BLS reported that the economy added 248,000 new positions in September. In August, it added 180,000 and in 243,000 in July.
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August's meager 142,000 reading was revised up to 180,000, while the July number came up from 212,000 to 243,000. September is often a below-trend month.
Despite the good news, wages remained stagnant; the average hourly wage dropped $0.01 to $24.53. The average work week edged higher to 34.6 hours. The U.S. labor force participation rate is also at a 37-year low, indicating that many people have given up looking for jobs, though it may also be a reflection of the aging populace.