Unemployment rate drops

U.S. employers added 134,000 jobs in September dropping the unemployment rate to 3.7 percent. That’s the lowest unemployment rate since 1969.

The job growth extends an eight and a half year streak of monthly growth. The strong economy has made businesses and consumers spend more, spurring solid economic growth.

That growth has made employers feel confident enough to continue hiring more workers, especially with the holiday season fast approaching.

Despite the low unemployment rate, hourly pay increased just 2.8 percent from a year ago. The economy is showing some other weak spots, sales of existing homes has dropped over the past year.