Economy

GREAT AGAIN: US Unemployment Rate Drops to 3.5%, Lowest in 50 YEARS

posted by Hannity Staff - 10.04.19

The American economy continued to make major gains in September, with new statistics showing more than 136,000 jobs were added and the unemployment rate falling to levels not seen in more than 50 years.

“The U.S. unemployment rate dropped to 3.5%, the lowest rate since December 1969,” reports Market Watch. “Government added 22,000 workers in September, but only 1,000 of the jobs were due to federal hiring for the 2020 Census. Economists had expected a much bigger increase in census workers.”

The economy is quickly becoming a major issue heading into the 2020 presidential election.

Last month, rising Democratic hopeful Elizabeth Warren vowed to promote “Economic Patriotism” in a new campaign ad.

“A lot of giant companies refer to themselves as ‘American.’ But let’s face it, they only have one real loyalty: Their shareholders. A Warren administration will halt the hollowing out of American cities and create good American jobs. Here’s how,” she posted on social media.

“They have no loyalty or allegiance to America. Levi’s blue jeans? Only two percent of their factories are here in America,” Warren said. “The maker of the famous No.2 pencil — they make most of those pencils in China and Mexico. And General Electric — they recently shipped jobs from Wisconsin, across the border to Canada.”

“If they can close up an American factory and ship jobs overseas to save a nickel, that is exactly what they’ll do,” she continued. “In a Warren administration, government policy will support American workers. I call it ‘Economic Patriotism.'”

“This new agency will have a single mission,” she added, referring to the Department of Economic Development. “Defend and create American jobs. And we’ll direct the new agency to use aggressive new tools… [and] we’ll use them to boost American workers.”

Read the full report at Market Watch.