12) 3.6% is the current unemployment rate
According to the current employment statistics for 2019, nonfarm employment increased by 136,000 in September. This is a significant increase, seeing how there were 45,000 more jobs created than predicted in July or August. The current unemployment rate sits at 3.6% and has remained as such for the past couple of years; not counting the first few months of each year when the unemployment rate is usually at around 4%.
Therefore, this latest employment data shows promise; it has been the lowest unemployment rate since 1969 and, according to all estimates, it is expected to continue its decline. A lot of work has been dedicated these last few years to economic revival after an extremely turbulent period but the work is far from over.
Bureau of labor statistics has a federal program called Occupational employment statistics, or OES for short. This program calculates employment and wage estimates for more than 800 occupations based on data collected by the OES semiannual survey.
The survey includes employment counts, occupations, and wages from more than 4,200 Washington state employers. With the insight gained from this data, they can estimate the employment rate and wage ratios for specific occupations for the previous year. What’s more, the occupations are divided into several categories where each category represents a different branch within a given industry.