The unemployment rate fell to 3.4 per cent from 3.5 per cent, hitting a level not seen since May 1969, the data showed.

The report showed that wage growth moderated on an annual basis: Average hourly earnings fell by 0.4 percentage points to 4.4 per cent year over year. Monthly wage gains held steady at 0.3 per cent.

An increase in the closely watched labour force participation rate to 62.4 per cent from 62.3 per cent was also observed in the BLS report.

Fibre2Fashion News Desk (DS)