The Unemployment Rate Has Dropped By 0.3% Nine Times Since 1990

jack welch

Photo: CNBC

Last Friday, the Bureau of labour Statistics told us that the unemployment rate fell to 7.8 per cent in September from from 8.1 per cent in August.The extraordinary drop sent Jack Welch to Twitter who suggested that the number was fixed.

Indeed, the drop was improbable. 

But it’s not unheard of.

“A three-tenths (or greater) decline in the unemployment rate in a single month is relatively unusual,” said Deutsche Bank’s Carl Riccadonna. “This has occurred nine times since 1990 and four times since 2000.

You can head to BLS.gov and see for yourself.

That’s your statistic of the day.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

jobs moneygame-us