US unemployment falls to a 50-year low
The US Labor Department reports that the unemployment rate fell to 3.5% from 3.7%. The main reason behind the development is that the economy added 136,000 jobs in September 2019.
On the other hand, the report claim that the manufacturing jobs fell in September 2019 following the slow down in-service industry growth. Professionals claim that 15-month US – China trade war has eroded business confidence. The central bank of US cut rates in July 2019 for the first time since 2019
Why American Economy is a matter to the world?
US is one of the biggest economies in the world. The slow down in US economy will slow down other economies across the world.